Cravens & Co Advisors LLC Reduces Holdings in Shopify Inc. (NYSE:SHOP)

Cravens & Co Advisors LLC reduced its holdings in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 31.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,108 shares of the software maker's stock after selling 3,755 shares during the quarter. Cravens & Co Advisors LLC's holdings in Shopify were worth $862,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Shopify by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker's stock valued at $5,010,721,000 after purchasing an additional 781,162 shares during the last quarter. FMR LLC grew its holdings in Shopify by 3.4% in the 4th quarter. FMR LLC now owns 43,732,077 shares of the software maker's stock valued at $4,653,054,000 after buying an additional 1,426,000 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Shopify by 79.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker's stock worth $1,752,834,000 after buying an additional 7,316,862 shares during the period. FIL Ltd increased its position in Shopify by 11.9% during the 4th quarter. FIL Ltd now owns 15,774,148 shares of the software maker's stock worth $1,678,865,000 after buying an additional 1,682,326 shares during the period. Finally, Norges Bank bought a new stake in shares of Shopify in the fourth quarter valued at about $1,542,262,000. Institutional investors own 69.27% of the company's stock.

Shopify Trading Down 0.4 %

Shopify stock traded down $0.31 during trading on Friday, hitting $83.65. 11,591,792 shares of the company were exchanged, compared to its average volume of 9,238,801. The business's 50 day moving average is $100.46 and its 200 day moving average is $101.46. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The company has a market capitalization of $108.31 billion, a P/E ratio of 53.97, a PEG ratio of 4.82 and a beta of 2.82.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released 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%. Equities analysts expect that Shopify Inc. will post 1.12 EPS for the current year.

Analyst Ratings Changes

Several analysts have weighed in on SHOP shares. DA Davidson dropped their price objective on shares of Shopify from $150.00 to $115.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Wells Fargo & Company upped their price objective on Shopify from $120.00 to $135.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. CIBC raised their price objective on Shopify from $135.00 to $160.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Wedbush reissued an "outperform" rating and set a $110.00 target price on shares of Shopify in a research note on Tuesday. Finally, Piper Sandler lifted their price target on shares of Shopify from $94.00 to $104.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $120.94.

About Shopify

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.