Personal CFO Solutions LLC Lowers Stake in Shopify Inc. (NYSE:SHOP)

Personal CFO Solutions LLC lowered its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 19,340 shares of the software maker’s stock after selling 264 shares during the period. Personal CFO Solutions LLC’s holdings in Shopify were worth $2,056,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Howland Capital Management LLC boosted its position in shares of Shopify by 2.0% during the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock worth $526,000 after purchasing an additional 99 shares during the period. Trust Co. of Vermont lifted its holdings in Shopify by 9.9% during the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock worth $118,000 after buying an additional 100 shares in the last quarter. First United Bank & Trust lifted its holdings in Shopify by 2.2% during the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock worth $488,000 after buying an additional 100 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in Shopify by 0.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock worth $1,162,000 after buying an additional 105 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. lifted its holdings in Shopify by 3.3% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock worth $357,000 after buying an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SHOP. Canaccord Genuity Group increased their target price on shares of Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Royal Bank of Canada increased their target price on shares of Shopify from $130.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Jefferies Financial Group increased their target price on shares of Shopify from $110.00 to $130.00 and gave the stock a “hold” rating in a report on Tuesday, February 18th. 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 report on Wednesday, February 12th. Finally, Scotiabank increased their target price on shares of Shopify from $115.00 to $120.00 and gave the stock a “sector perform” 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 issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Stock Performance

Shares of Shopify stock opened at $100.00 on Friday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The company has a market capitalization of $129.48 billion, a P/E ratio of 64.52, a PEG ratio of 4.82 and a beta of 2.60. The company’s fifty day moving average is $112.26 and its two-hundred day moving average is $97.96.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing the consensus estimate 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 expect that Shopify Inc. will post 1.12 earnings per share for the current 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.