Shopify Inc. (NYSE:SHOP) Holdings Trimmed by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC reduced its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 8.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,877 shares of the software maker’s stock after selling 8,814 shares during the period. Orion Portfolio Solutions LLC’s holdings in Shopify were worth $9,876,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pictet Asset Management Holding SA boosted its stake in shares of Shopify by 2.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,170,866 shares of the software maker’s stock worth $230,852,000 after acquiring an additional 56,296 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Shopify by 3.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 57,051 shares of the software maker’s stock worth $6,068,000 after purchasing an additional 1,664 shares during the period. Norges Bank purchased a new stake in shares of Shopify during the fourth quarter valued at $1,542,262,000. Blair William & Co. IL boosted its position in shares of Shopify by 2.1% in the 4th quarter. Blair William & Co. IL now owns 467,025 shares of the software maker’s stock valued at $49,659,000 after purchasing an additional 9,819 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in Shopify by 137.8% in the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 24,205 shares of the software maker’s stock worth $2,574,000 after purchasing an additional 14,027 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SHOP has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Shopify from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Phillip Securities lowered shares of Shopify from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, February 17th. TD Securities boosted their target price on shares of Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group increased their target price on Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, ATB Capital lifted their price target on Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. One investment 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Stock Down 5.9 %

Shares of NYSE SHOP opened at $96.51 on Friday. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The company has a market cap of $124.96 billion, a P/E ratio of 62.27, a P/E/G ratio of 4.82 and a beta of 2.60. The business’s 50 day moving average is $110.21 and its two-hundred day moving average is $100.55.

Shopify (NYSE:SHOP) (TSE:SHOP) last released 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 net margin of 22.74% and a return on equity of 12.00%. Sell-side analysts expect 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.