Shopify Inc. (NYSE:SHOP) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. reduced its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 357,537 shares of the software maker’s stock after selling 8,478 shares during the period. Shopify comprises 0.7% of Advisors Asset Management Inc.’s holdings, making the stock its 14th biggest position. Advisors Asset Management Inc.’s holdings in Shopify were worth $38,017,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. PFG Private Wealth Management LLC boosted its holdings in shares of Shopify by 3,657.1% in the 4th 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. Brooklyn Investment Group purchased a new stake in Shopify during the third quarter worth $33,000. New Wave Wealth Advisors LLC purchased a new stake in Shopify during the fourth quarter worth $39,000. Mather Group LLC. raised its position in Shopify by 84.8% during the fourth 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 period. Finally, Truvestments Capital LLC acquired a new position in Shopify during the third quarter worth $45,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada increased their target price on shares of Shopify from $130.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. UBS Group increased their target price on shares of Shopify from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Barclays raised their price objective on shares of Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Finally, Evercore ISI raised their price objective on shares of Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a research 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’s stock. Based on data from MarketBeat, Shopify has a consensus rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Performance

Shares of NYSE SHOP opened at $96.78 on Tuesday. The firm has a market capitalization of $125.31 billion, a P/E ratio of 62.44, a PEG ratio of 4.82 and a beta of 2.60. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38. The company’s fifty day moving average is $110.53 and its two-hundred day moving average is $98.94.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, February 11th. The software maker reported $0.34 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%. On average, sell-side analysts forecast 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.