Shopify Inc. (NYSE:SHOP) Stock Holdings Cut by X Square Capital LLC

X Square Capital LLC cut its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 9,303 shares of the software maker’s stock after selling 270 shares during the quarter. X Square Capital LLC’s holdings in Shopify were worth $989,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of SHOP. PFG Private Wealth Management LLC raised 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 worth $28,000 after purchasing an additional 256 shares in the last quarter. Mark Sheptoff Financial Planning LLC lifted its stake in Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new position in Shopify during the fourth quarter valued at approximately $39,000. Mather Group LLC. increased its stake in shares of Shopify by 84.8% in 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 last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of Shopify during the 3rd quarter worth about $33,000. Institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Barclays upped their price objective on shares of Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Canaccord Genuity Group upped their target price on shares of Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Jefferies Financial Group lifted their price objective on Shopify from $110.00 to $130.00 and gave the company a “hold” rating in a report on Tuesday, February 18th. JMP Securities reiterated a “market outperform” rating and issued a $120.00 price objective on shares of Shopify in a research report on Thursday, December 12th. Finally, CIBC raised their price target on shares of Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Trading Down 1.6 %

Shopify stock opened at $102.64 on Friday. The stock has a 50-day moving average price of $110.35 and a two-hundred day moving average price of $100.35. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The company has a market capitalization of $132.90 billion, a PE ratio of 66.22, a P/E/G ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted 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%. As a group, analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

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.