Shopify Inc. (NYSE:SHOP) Shares Sold by Wellington Shields & Co. LLC

Wellington Shields & Co. LLC reduced its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,003 shares of the software maker’s stock after selling 580 shares during the period. Wellington Shields & Co. LLC’s holdings in Shopify were worth $2,233,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Sienna Gestion acquired a new stake in shares of Shopify during the 4th quarter valued at approximately $5,872,000. Midwest Professional Planners LTD. grew its stake in Shopify by 60.4% during the 4th quarter. Midwest Professional Planners LTD. now owns 10,540 shares of the software maker’s stock worth $1,121,000 after buying an additional 3,970 shares during the last quarter. Left Brain Wealth Management LLC grew its stake in Shopify by 27.8% during the 4th quarter. Left Brain Wealth Management LLC now owns 33,132 shares of the software maker’s stock worth $3,523,000 after buying an additional 7,199 shares during the last quarter. Aviso Financial Inc. grew its stake in Shopify by 3.6% during the 4th quarter. Aviso Financial Inc. now owns 30,247 shares of the software maker’s stock worth $3,218,000 after buying an additional 1,050 shares during the last quarter. Finally, Atala Financial Inc bought a new position in Shopify during the 4th quarter worth $2,058,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on SHOP shares. Evercore ISI upped their price objective on Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Moffett Nathanson upped their price objective on Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. CIBC upped their price objective on Shopify from $135.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. TD Securities upped their price objective on Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. increased their price target on Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and an average price target of $126.31.

Shopify Price Performance

SHOP stock opened at $94.88 on Friday. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The company’s 50 day simple moving average is $110.88 and its 200-day simple moving average is $98.43. The firm has a market capitalization of $122.86 billion, a P/E ratio of 61.22, a P/E/G ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. Sell-side analysts predict that Shopify Inc. will post 1.12 EPS for the current fiscal year.

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.