Bryn Mawr Capital Management LLC Has $622,000 Position in Shopify Inc. (NYSE:SHOP)

Bryn Mawr Capital Management LLC reduced its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 56.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,854 shares of the software maker’s stock after selling 7,461 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Shopify were worth $622,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SHOP. Allspring Global Investments Holdings LLC raised its holdings in Shopify by 14.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 189,827 shares of the software maker’s stock valued at $15,213,000 after acquiring an additional 24,472 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in Shopify by 10.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 18,207 shares of the software maker’s stock valued at $1,459,000 after acquiring an additional 1,699 shares in the last quarter. Eastern Bank acquired a new position in Shopify in the 3rd quarter valued at $143,000. Private Advisor Group LLC raised its holdings in Shopify by 0.5% in the 3rd quarter. Private Advisor Group LLC now owns 57,244 shares of the software maker’s stock valued at $4,588,000 after acquiring an additional 268 shares in the last quarter. Finally, Greenleaf Trust acquired a new position in Shopify in the 3rd quarter valued at $301,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on SHOP. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $120.00 price objective on shares of Shopify in a report on Wednesday, February 12th. Phillip Securities cut Shopify from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, February 17th. UBS Group lifted their price target on Shopify from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Piper Sandler lifted their price target on Shopify from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Finally, Morgan Stanley lifted their price target on Shopify from $126.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Shopify has an average rating of “Moderate Buy” and an average price target of $126.31.

Shopify Trading Down 6.5 %

NYSE SHOP opened at $115.40 on Friday. The firm has a market capitalization of $149.10 billion, a PE ratio of 74.45, a price-to-earnings-growth ratio of 4.98 and a beta of 2.47. The business’s 50-day moving average price is $112.85 and its two-hundred day moving average price is $95.10. Shopify Inc. has a 12 month low of $48.56 and a 12 month 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 analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. As a group, analysts forecast 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.