Townsquare Capital LLC Sells 18,373 Shares of Shopify Inc. (NYSE:SHOP)

Townsquare Capital LLC decreased its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 463,074 shares of the software maker's stock after selling 18,373 shares during the period. Townsquare Capital LLC's holdings in Shopify were worth $49,239,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Next Century Growth Investors LLC grew its stake in shares of Shopify by 47.7% in the 4th quarter. Next Century Growth Investors LLC now owns 24,783 shares of the software maker's stock valued at $2,635,000 after buying an additional 7,999 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in Shopify by 298.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 642,229 shares of the software maker's stock worth $68,280,000 after acquiring an additional 481,170 shares in the last quarter. Argent Trust Co acquired a new position in shares of Shopify during the 4th quarter worth $603,000. Legacy Financial Advisors Inc. increased its stake in shares of Shopify by 7.2% during the 4th quarter. Legacy Financial Advisors Inc. now owns 11,200 shares of the software maker's stock worth $1,191,000 after purchasing an additional 749 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its holdings in shares of Shopify by 66.8% during the 4th quarter. Neuberger Berman Group LLC now owns 332,199 shares of the software maker's stock valued at $35,331,000 after purchasing an additional 133,059 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.

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Shopify Stock Performance

Shares of NYSE SHOP traded up $1.14 during mid-day trading on Tuesday, hitting $83.91. 6,972,794 shares of the stock were exchanged, compared to its average volume of 9,220,233. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The stock's fifty day simple moving average is $102.66 and its two-hundred day simple moving average is $101.52. The company has a market cap of $108.65 billion, a P/E ratio of 54.14, 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%. As a group, equities research analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on SHOP. DA Davidson lowered their target price on shares of Shopify from $150.00 to $115.00 and set a "buy" rating on the stock in a research report on Monday. Scotiabank raised their price objective on Shopify from $115.00 to $120.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 12th. Cantor Fitzgerald restated a "neutral" rating and issued a $120.00 target price on shares of Shopify in a report on Wednesday, February 12th. New Street Research began coverage on Shopify in a report on Friday, January 10th. They set a "neutral" rating and a $115.00 price target on the stock. Finally, UBS Group boosted their price objective on shares of Shopify from $110.00 to $125.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. One investment 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 assigned a strong buy rating to the company's stock. According to MarketBeat, Shopify currently has an average rating of "Moderate Buy" and a consensus target price of $124.74.

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.