Boyd Watterson Asset Management LLC OH Lowers Stake in Shopify Inc. (NYSE:SHOP)

Boyd Watterson Asset Management LLC OH reduced its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,664 shares of the software maker’s stock after selling 100 shares during the quarter. Boyd Watterson Asset Management LLC OH’s holdings in Shopify were worth $2,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Baillie Gifford & Co. lifted its holdings in Shopify by 14.7% in the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after purchasing an additional 8,131,160 shares in the last quarter. FMR LLC raised its position in shares of Shopify by 16.1% during the third 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 last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Shopify by 6.3% in the third 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 in the last quarter. National Bank of Canada FI boosted its position in shares of Shopify by 28.0% during 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 last quarter. Finally, Geode Capital Management LLC grew its stake in Shopify by 9.6% during the third quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker’s stock valued at $432,573,000 after acquiring an additional 471,280 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Performance

Shares of NYSE:SHOP opened at $115.40 on Friday. The firm has a market cap of $149.42 billion, a PE ratio of 74.45, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47. The firm’s 50 day simple moving average is $112.85 and its 200-day simple moving average is $95.10. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly 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 predict that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analyst Ratings Changes

SHOP has been the subject of several research reports. Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and increased their price objective for the company from $110.00 to $140.00 in a report on Friday, December 6th. DA Davidson increased their price target on Shopify from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. TD Securities lifted their price objective on Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. Wedbush reiterated an “outperform” rating and set a $125.00 target price on shares of Shopify in a research report on Tuesday, February 11th. Finally, The Goldman Sachs Group raised 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. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $126.31.

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.