Shopify (NYSE:SHOP) Shares Down 4% - Time to Sell?

Shopify Inc. (NYSE:SHOP - Get Free Report) TSE: SHOP's stock price fell 4% during trading on Friday . The stock traded as low as $96.59 and last traded at $98.42. 3,799,790 shares were traded during trading, a decline of 56% from the average session volume of 8,619,245 shares. The stock had previously closed at $102.52.

Analyst Ratings Changes

SHOP has been the subject of several recent research reports. Scotiabank upped their price target on shares of Shopify from $115.00 to $120.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised their target price on Shopify from $125.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. The Goldman Sachs Group lifted their target price on Shopify from $135.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Citigroup increased their price target on Shopify from $143.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $125.00 price objective on shares of Shopify in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $126.31.

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Shopify Stock Performance

The company's 50 day moving average price is $110.21 and its 200-day moving average price is $100.98. The stock has a market cap of $123.63 billion, a P/E ratio of 61.60, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) 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, analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SHOP. LRI Investments LLC boosted its holdings in shares of Shopify by 9.8% in the 4th quarter. LRI Investments LLC now owns 889 shares of the software maker's stock worth $94,000 after buying an additional 79 shares during the last quarter. Tidemark LLC raised its position in Shopify by 3.6% in the fourth quarter. Tidemark LLC now owns 2,592 shares of the software maker's stock worth $276,000 after acquiring an additional 90 shares during the period. Howland Capital Management LLC boosted its stake in Shopify by 2.0% in the fourth quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker's stock valued at $526,000 after acquiring an additional 99 shares during the last quarter. Trust Co. of Vermont grew its position in shares of Shopify by 9.9% during the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker's stock valued at $118,000 after acquiring an additional 100 shares during the period. Finally, First United Bank & Trust increased its stake in shares of Shopify by 2.2% during the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker's stock worth $488,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.

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.