SWS Partners Sells 9,215 Shares of Shopify Inc. (NYSE:SHOP)

SWS Partners decreased its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 37.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,257 shares of the software maker's stock after selling 9,215 shares during the period. SWS Partners' holdings in Shopify were worth $1,622,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. New Wave Wealth Advisors LLC bought a new position in Shopify during the fourth quarter worth about $39,000. Mather Group LLC. increased its holdings in shares of Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker's stock worth $43,000 after purchasing an additional 184 shares during the period. Brooklyn Investment Group bought a new position in shares of Shopify during the third quarter worth approximately $33,000. Sierra Ocean LLC acquired a new stake in shares of Shopify in the fourth quarter valued at approximately $46,000. Finally, Synergy Asset Management LLC bought a new stake in shares of Shopify in the fourth quarter valued at approximately $55,000. Institutional investors and hedge funds own 69.27% of the company's stock.

Analysts Set New Price Targets

SHOP has been the subject of several analyst reports. Piper Sandler lifted their price objective on Shopify from $94.00 to $104.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Jefferies Financial Group boosted their price target on Shopify from $110.00 to $130.00 and gave the company a "hold" rating in a research note on Tuesday, February 18th. Canaccord Genuity Group increased their price objective on shares of Shopify from $125.00 to $140.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Benchmark raised shares of Shopify from a "hold" rating to a "buy" rating and set a $150.00 target price on the stock in a report on Monday, February 10th. Finally, ATB Capital upped their price target on shares of Shopify from $145.00 to $170.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $126.31.

Shopify Stock Performance

Shares of NYSE SHOP traded up $0.50 during midday trading on Thursday, reaching $106.65. The stock had a trading volume of 4,897,723 shares, compared to its average volume of 8,028,703. The company's 50 day moving average price is $112.57 and its 200 day moving average price is $97.59. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The firm has a market cap of $138.09 billion, a price-to-earnings ratio of 69.07, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47.

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

Shopify Company 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.