Trillium Asset Management LLC lessened its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 11.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 222,231 shares of the software maker's stock after selling 27,885 shares during the quarter. Trillium Asset Management LLC's holdings in Shopify were worth $23,630,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently bought and sold shares of the business. Generali Asset Management SPA SGR bought a new position in shares of Shopify during the 4th quarter worth $6,653,000. Evoke Wealth LLC boosted its position in Shopify by 2.8% during the fourth quarter. Evoke Wealth LLC now owns 6,611 shares of the software maker's stock valued at $703,000 after purchasing an additional 180 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in Shopify by 149.0% during the fourth quarter. Thrivent Financial for Lutherans now owns 220,108 shares of the software maker's stock valued at $23,182,000 after purchasing an additional 131,699 shares in the last quarter. PDS Planning Inc boosted its position in Shopify by 24.9% during the fourth quarter. PDS Planning Inc now owns 10,959 shares of the software maker's stock valued at $1,165,000 after purchasing an additional 2,187 shares in the last quarter. Finally, Petra Financial Advisors Inc. purchased a new stake in Shopify in the fourth quarter valued at about $558,000. Institutional investors own 69.27% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on SHOP shares. Royal Bank of Canada set a $145.00 price target on Shopify and gave the company an "outperform" rating in a research note on Friday. The Goldman Sachs Group increased their price target on Shopify from $135.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. ATB Capital increased their price target on Shopify from $145.00 to $170.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. raised their price objective on Shopify from $121.00 to $124.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Finally, Truist Financial raised their price objective on Shopify from $110.00 to $120.00 and gave the stock a "hold" rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have issued 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, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $126.31.
Read Our Latest Stock Report on SHOP
Shopify Stock Performance
Shares of NYSE:SHOP traded up $2.44 during trading on Friday, reaching $104.29. The stock had a trading volume of 8,690,629 shares, compared to its average volume of 8,586,306. The business has a fifty day moving average price of $110.04 and a 200-day moving average price of $99.33. The stock has a market cap of $135.04 billion, a PE ratio of 67.29, a PEG ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 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%. Sell-side analysts expect that Shopify Inc. will post 1.12 earnings per share for the current year.
Shopify Profile
(
Free Report)
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.
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