Shopify Inc. (NYSE:SHOP) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. cut its holdings in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,020,969 shares of the software maker's stock after selling 14,470 shares during the quarter. Bessemer Group Inc. owned about 0.08% of Shopify worth $108,560,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Allianz SE purchased a new stake in Shopify during the 4th quarter worth approximately $27,000. PFG Private Wealth Management LLC raised its holdings in Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock worth $28,000 after purchasing an additional 256 shares in the last quarter. Mark Sheptoff Financial Planning LLC lifted its position in Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock valued at $32,000 after acquiring an additional 100 shares during the last quarter. New Wave Wealth Advisors LLC acquired a new stake in shares of Shopify in the 4th quarter valued at about $39,000. Finally, Mather Group LLC. grew its stake in Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker's stock worth $43,000 after buying an additional 184 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Up 0.6 %

Shares of SHOP stock traded up $0.46 during mid-day trading on Tuesday, hitting $83.23. 3,709,971 shares of the company's stock were exchanged, compared to its average volume of 9,205,804. The stock has a market cap of $107.77 billion, a price-to-earnings ratio of 53.70, a PEG ratio of 4.82 and a beta of 2.82. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The stock has a 50-day simple moving average of $103.35 and a two-hundred day simple moving average of $101.65.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. As a group, analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SHOP. Morgan Stanley raised their target price on shares of Shopify from $126.00 to $144.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. CIBC upped their target price on shares of Shopify from $135.00 to $160.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. UBS Group raised their price target on Shopify from $110.00 to $125.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Wells Fargo & Company upped their price objective on Shopify from $120.00 to $135.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Shopify from $125.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $124.74.

Shopify Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.