Guggenheim Capital LLC Decreases Stake in Shopify Inc. (NYSE:SHOP)

Guggenheim Capital LLC lessened its stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 39.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,580 shares of the software maker's stock after selling 4,295 shares during the quarter. Guggenheim Capital LLC's holdings in Shopify were worth $700,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SHOP. World Investment Advisors LLC increased its position in Shopify by 113.4% during the 3rd quarter. World Investment Advisors LLC now owns 12,751 shares of the software maker's stock worth $1,022,000 after buying an additional 6,776 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Shopify during the third quarter worth about $615,000. Synovus Financial Corp bought a new position in Shopify during the third quarter worth about $481,000. Peapack Gladstone Financial Corp raised its stake in Shopify by 29.3% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 9,551 shares of the software maker's stock worth $765,000 after purchasing an additional 2,162 shares in the last quarter. Finally, Beaird Harris Wealth Management LLC boosted its holdings in Shopify by 700.0% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 1,000 shares of the software maker's stock valued at $80,000 after purchasing an additional 875 shares during the period. Institutional investors own 69.27% of the company's stock.

Shopify Price Performance

Shares of NYSE SHOP traded up $2.00 during trading on Friday, hitting $97.12. The stock had a trading volume of 7,818,257 shares, compared to its average volume of 9,286,129. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The company has a market capitalization of $125.75 billion, a PE ratio of 62.66, a PEG ratio of 4.82 and a beta of 2.82. The firm has a fifty day moving average of $96.79 and a two-hundred day moving average of $101.92.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its 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 return on equity of 12.00% and a net margin of 22.74%. On average, equities analysts expect that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

SHOP has been the subject of a number of analyst reports. UBS Group lifted their price target on shares of Shopify from $110.00 to $125.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. Citigroup upped their target price on Shopify from $143.00 to $175.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. CIBC increased their target price on Shopify from $135.00 to $160.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Loop Capital dropped their price target on Shopify from $150.00 to $120.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Finally, Mizuho reduced their price objective on shares of Shopify from $110.00 to $85.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Shopify currently has a consensus rating of "Moderate Buy" and a consensus price target of $119.67.

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.