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

EULAV Asset Management lowered its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 105,000 shares of the software maker’s stock after selling 7,000 shares during the period. EULAV Asset Management’s holdings in Shopify were worth $11,165,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC acquired a new stake in shares of Shopify during the 4th quarter worth about $132,323,000. Swiss National Bank boosted its position in Shopify by 0.9% during the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock worth $293,507,000 after acquiring an additional 33,300 shares during the last quarter. Watts Gwilliam & Co. LLC grew its stake in Shopify by 53.0% in the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock worth $1,431,000 after acquiring an additional 4,641 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in Shopify by 29.3% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock valued at $27,409,000 after acquiring an additional 77,500 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its stake in shares of Shopify by 26.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock worth $2,693,000 after purchasing an additional 7,027 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 1.1 %

SHOP opened at $117.33 on Friday. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $122.81. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The stock has a market capitalization of $151.60 billion, a PE ratio of 109.65, a P/E/G ratio of 2.49 and a beta of 2.47. The firm’s fifty day moving average price is $110.88 and its 200 day moving average price is $90.15.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group lifted their price objective on Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. New Street Research assumed coverage on shares of Shopify in a research note on Friday, January 10th. They set a “neutral” rating and a $115.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $130.00 price objective on shares of Shopify in a report on Wednesday, January 22nd. Mizuho boosted their target price on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Finally, Canaccord Genuity Group increased their price target on shares of Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $100.32.

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.