Angeles Investment Advisors LLC Decreases Stock Holdings in Shopify Inc. (NYSE:SHOP)

Angeles Investment Advisors LLC lessened its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 75.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,587 shares of the software maker’s stock after selling 7,804 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Shopify were worth $275,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Shopify by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker’s stock worth $5,010,721,000 after purchasing an additional 781,162 shares during the last quarter. FMR LLC lifted its holdings in shares of Shopify by 16.1% during the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after buying an additional 5,869,795 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Shopify by 6.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker’s stock worth $658,248,000 after buying an additional 484,561 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of Shopify by 28.0% in the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock worth $593,588,000 after acquiring an additional 1,621,981 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Shopify by 30.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,095,382 shares of the software maker’s stock valued at $754,201,000 after acquiring an additional 1,647,374 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SHOP shares. Citigroup raised their target price on Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Robert W. Baird boosted their target price on shares of Shopify from $126.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Oppenheimer increased their price target on shares of Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. CIBC boosted their price objective on shares of Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, The Goldman Sachs Group raised 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. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Stock Up 2.4 %

Shares of SHOP opened at $104.29 on Monday. The business has a fifty day moving average of $110.04 and a 200 day moving average of $99.73. The company has a market cap of $135.04 billion, a PE ratio of 67.29, a P/E/G ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38.

Shopify (NYSE:SHOP) (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 return on equity of 12.00% and a net margin of 22.74%. As a group, research analysts anticipate 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.