Shopify Inc. (NYSE:SHOP) Holdings Decreased by Sterling Capital Management LLC

Sterling Capital Management LLC reduced its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 37.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,279 shares of the software maker's stock after selling 32,382 shares during the period. Sterling Capital Management LLC's holdings in Shopify were worth $5,665,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Allianz SE acquired a new position in shares of Shopify during the fourth quarter worth $27,000. PFG Private Wealth Management LLC lifted its holdings in Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock worth $28,000 after buying an additional 256 shares during the last quarter. Mark Sheptoff Financial Planning LLC boosted its position in shares of Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock worth $32,000 after acquiring an additional 100 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new position in shares of Shopify in the 4th quarter valued at about $39,000. Finally, Mather Group LLC. increased its holdings in shares of Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker's stock valued at $43,000 after acquiring an additional 184 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. CIBC upped their price target on Shopify from $135.00 to $160.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. The Goldman Sachs Group upped their target price on shares of Shopify from $135.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. UBS Group increased their target price 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. Mizuho reduced their price target on shares of Shopify from $110.00 to $85.00 and set a "neutral" rating for the company in a research report on Monday. Finally, Canaccord Genuity Group raised their price objective on Shopify from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Shopify currently has an average rating of "Moderate Buy" and an average target price of $120.94.

Shopify Stock Performance

Shares of NYSE:SHOP traded up $0.55 during mid-day trading on Thursday, hitting $84.51. 7,191,921 shares of the company traded hands, compared to its average volume of 10,137,926. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The firm's 50 day simple moving average is $101.99 and its 200 day simple moving average is $101.40. The firm has a market cap of $109.42 billion, a P/E ratio of 54.52, a PEG ratio of 4.82 and a beta of 2.82.

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 (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%. Equities research analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

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.