LM Advisors LLC Reduces Holdings in Shopify Inc. (NYSE:SHOP)

LM Advisors LLC trimmed its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 10.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,036 shares of the software maker’s stock after selling 464 shares during the period. LM Advisors LLC’s holdings in Shopify were worth $429,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. PFG Private Wealth Management LLC increased its position in Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after acquiring an additional 256 shares during the last quarter. Mark Sheptoff Financial Planning LLC boosted its position in shares of Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after buying an additional 100 shares during the period. Brooklyn Investment Group bought a new position in shares of Shopify during the third quarter valued at approximately $33,000. New Wave Wealth Advisors LLC purchased a new stake in shares of Shopify in the fourth quarter worth approximately $39,000. Finally, Mather Group LLC. lifted its stake in shares of Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after acquiring an additional 184 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 1.6 %

SHOP stock opened at $102.64 on Friday. The business’s 50-day moving average is $110.35 and its 200 day moving average is $100.35. The stock has a market cap of $132.90 billion, a price-to-earnings ratio of 66.22, a PEG ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 12-month low of $48.56 and a 12-month 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 net margin of 22.74% and a return on equity of 12.00%. As a group, equities analysts forecast that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SHOP shares. Robert W. Baird increased their target price on shares of Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Evercore ISI increased their price target on shares of Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Truist Financial lifted their price objective on shares of Shopify from $110.00 to $120.00 and gave the stock a “hold” rating in a research report on Wednesday, February 12th. Oppenheimer lifted their price target on shares of Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, Wedbush reiterated an “outperform” rating and set a $125.00 price objective on shares of Shopify in a report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $126.31.

About Shopify

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.