Shopify Inc. (NYSE:SHOP) Shares Sold by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. trimmed its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 9.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,677 shares of the software maker’s stock after selling 2,102 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Shopify were worth $2,092,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SHOP. Creative Planning boosted its stake in shares of Shopify by 4.4% during the 3rd quarter. Creative Planning now owns 392,415 shares of the software maker’s stock worth $31,448,000 after acquiring an additional 16,375 shares in the last quarter. Global Retirement Partners LLC lifted its stake in Shopify by 4.4% in the 3rd quarter. Global Retirement Partners LLC now owns 10,651 shares of the software maker’s stock valued at $854,000 after buying an additional 449 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in Shopify by 26.7% during the 3rd quarter. Bleakley Financial Group LLC now owns 17,113 shares of the software maker’s stock valued at $1,371,000 after buying an additional 3,610 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Shopify by 1.2% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,079 shares of the software maker’s stock worth $1,289,000 after buying an additional 194 shares in the last quarter. Finally, Claro Advisors LLC acquired a new stake in shares of Shopify during the third quarter valued at $96,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SHOP. Wells Fargo & Company boosted their target price on shares of Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. New Street Research assumed coverage on shares of Shopify in a research report on Friday, January 10th. They issued a “neutral” rating and a $115.00 target price on the stock. Evercore ISI raised their price objective on Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Wedbush reissued an “outperform” rating and issued a $125.00 price objective on shares of Shopify in a research report on Tuesday, February 11th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Shopify from $125.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $126.21.

Shopify Trading Up 0.6 %

Shares of SHOP stock opened at $128.36 on Monday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $128.57. The stock’s fifty day simple moving average is $111.90 and its 200 day simple moving average is $92.98. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $165.85 billion, a P/E ratio of 119.96, a P/E/G ratio of 2.49 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced 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 11.60% and a net margin of 16.84%. As a group, sell-side analysts predict that Shopify Inc. will post 0.91 EPS 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.