Shopify Inc. (NYSE:SHOP) Shares Sold by Sterling Investment Advisors Ltd.

Sterling Investment Advisors Ltd. trimmed its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,630 shares of the software maker’s stock after selling 1,266 shares during the period. Sterling Investment Advisors Ltd.’s holdings in Shopify were worth $3,576,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Jennison Associates LLC bought a new stake in shares of Shopify in the 4th quarter valued at approximately $132,323,000. Swiss National Bank grew its stake in Shopify by 0.9% during the 3rd quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock worth $293,507,000 after buying an additional 33,300 shares during the last quarter. Watts Gwilliam & Co. LLC grew its stake in Shopify by 53.0% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock worth $1,431,000 after buying an additional 4,641 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in Shopify by 29.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock worth $27,409,000 after buying an additional 77,500 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in 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 buying an additional 7,027 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Price Performance

Shares of SHOP stock opened at $115.45 on Tuesday. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The stock’s 50-day moving average is $112.84 and its two-hundred day moving average is $95.93. The firm has a market cap of $149.48 billion, a P/E ratio of 74.48, a PEG ratio of 4.82 and a beta of 2.47.

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 return on equity of 12.00% and a net margin of 22.74%. As a group, research analysts expect that Shopify Inc. will post 1.12 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SHOP. DA Davidson upped their price objective on Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and upped their price objective for the stock from $110.00 to $140.00 in a research note on Friday, December 6th. Deutsche Bank Aktiengesellschaft increased their price target on Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Oppenheimer increased their price target on Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, The Goldman Sachs Group increased their price target on Shopify from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. One research 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus 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.