Boothe Investment Group Inc. Has $6.20 Million Holdings in Shopify Inc. (NYSE:SHOP)

Boothe Investment Group Inc. cut its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 12.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,299 shares of the software maker’s stock after selling 8,375 shares during the quarter. Shopify makes up 2.7% of Boothe Investment Group Inc.’s holdings, making the stock its 15th biggest holding. Boothe Investment Group Inc.’s holdings in Shopify were worth $6,199,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Jennison Associates LLC acquired a new stake in Shopify in the fourth quarter valued at about $132,323,000. Swiss National Bank boosted its stake in 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 buying an additional 33,300 shares in the last quarter. Watts Gwilliam & Co. LLC boosted its stake in Shopify by 53.0% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after buying an additional 4,641 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in Shopify by 29.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock valued at $27,409,000 after buying an additional 77,500 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in Shopify by 26.4% in the third quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock valued at $2,693,000 after buying an additional 7,027 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Barclays lifted their price target on Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Benchmark raised Shopify from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research note on Monday, February 10th. Scotiabank lifted their price target on Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Truist Financial lifted their price target on Shopify from $110.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. Finally, Mizuho lifted their price target on Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Stock Down 6.5 %

Shares of NYSE:SHOP opened at $115.40 on Monday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The stock’s 50 day moving average is $112.85 and its 200-day moving average is $95.60. The firm 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.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results 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 return on equity of 12.00% and a net margin of 22.74%. Equities research analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

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.