Shopify Inc. (NYSE:SHOP) Shares Sold by Callan Capital LLC

Callan Capital LLC reduced its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 8.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,793 shares of the software maker’s stock after selling 442 shares during the quarter. Callan Capital LLC’s holdings in Shopify were worth $510,000 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. Brooklyn Investment Group acquired a new stake in Shopify during the 3rd quarter worth $33,000. Rosenberg Matthew Hamilton grew its position in Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares during the last quarter. New Wave Wealth Advisors LLC purchased a new position in Shopify during the 4th quarter worth $39,000. Mather Group LLC. grew its position in Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after purchasing an additional 184 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new position in Shopify during the 3rd quarter worth $45,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of SHOP opened at $115.40 on Friday. The company has a market capitalization of $149.42 billion, a price-to-earnings ratio of 74.45, a PEG ratio of 4.82 and a beta of 2.47. The company’s 50 day simple moving average is $112.85 and its 200 day simple moving average is $95.38. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share (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%. Equities analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on SHOP. KeyCorp raised their price objective on shares of Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. raised their price objective on shares of Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. DA Davidson raised their price objective on shares of Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and raised their price objective for the stock from $110.00 to $140.00 in a research report on Friday, December 6th. Finally, Moffett Nathanson lifted their target price on shares of Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $126.31.

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.