MONECO Advisors LLC Sells 263 Shares of Shopify Inc. (NYSE:SHOP)

MONECO Advisors LLC reduced its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,685 shares of the software maker’s stock after selling 263 shares during the period. MONECO Advisors LLC’s holdings in Shopify were worth $711,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Brooklyn Investment Group purchased a new stake in shares of Shopify during the 3rd quarter valued at approximately $33,000. Rosenberg Matthew Hamilton lifted its stake in shares of Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after buying an additional 133 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new stake in shares of Shopify during the 4th quarter valued at approximately $39,000. 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 valued at $43,000 after buying an additional 184 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new stake in shares of Shopify during the 3rd quarter valued at approximately $45,000. 69.27% of the stock is owned by institutional investors.

Shopify Stock Down 6.5 %

Shopify stock opened at $115.40 on Monday. The company has a market cap of $149.42 billion, a price-to-earnings ratio of 74.45, a PEG ratio of 4.82 and a beta of 2.47. The firm’s fifty day moving average is $112.85 and its 200 day moving average is $95.60. 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 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%. On average, equities research analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Scotiabank upped their price target on shares of Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. DA Davidson increased their target price on shares of Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Citigroup increased their target price on shares of Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Oppenheimer increased their target price on shares of Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. increased their target price on shares of Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. One 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 given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.