Shopify Inc. (NYSE:SHOP) Shares Sold by Pembroke Management LTD

Pembroke Management LTD lessened its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 26.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,589 shares of the software maker’s stock after selling 1,324 shares during the quarter. Pembroke Management LTD’s holdings in Shopify were worth $382,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of SHOP. Jennison Associates LLC bought a new position in Shopify in the 4th quarter valued at about $132,323,000. Swiss National Bank boosted its holdings in shares of Shopify by 0.9% in the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock valued at $293,507,000 after acquiring an additional 33,300 shares in the last quarter. Watts Gwilliam & Co. LLC increased its stake in shares of Shopify by 53.0% during the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $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% during the third 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 purchasing an additional 77,500 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in Shopify by 26.4% in the third 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. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Up 0.6 %

Shopify stock opened at $128.36 on Tuesday. Shopify Inc. has a one year low of $48.56 and a one year high of $128.57. The company’s fifty day moving average price is $111.90 and its two-hundred day moving average price is $93.20. The company has a market capitalization of $165.85 billion, a price-to-earnings ratio of 119.96, a PEG ratio of 2.49 and a beta of 2.47. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 16.84% and a return on equity of 11.60%. On average, analysts forecast that Shopify Inc. will post 0.91 earnings per share for the current fiscal year.

Analyst Ratings Changes

SHOP has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price target on Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Royal Bank of Canada boosted their price target on shares of Shopify from $130.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. New Street Research began coverage on shares of Shopify in a report on Friday, January 10th. They issued a “neutral” rating and a $115.00 price target for the company. CIBC lifted their price objective on shares of Shopify from $135.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, Wedbush reissued an “outperform” rating and set a $125.00 target price on shares of Shopify in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and an average target price of $126.21.

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.