Twin Peaks Wealth Advisors LLC Sells 602 Shares of Shopify Inc. (NYSE:SHOP)

Twin Peaks Wealth Advisors LLC trimmed its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 14.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,680 shares of the software maker’s stock after selling 602 shares during the quarter. Twin Peaks Wealth Advisors LLC’s holdings in Shopify were worth $391,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Howland Capital Management LLC boosted its stake in Shopify by 2.0% in the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock worth $526,000 after purchasing an additional 99 shares during the period. Trust Co. of Vermont boosted its position in shares of Shopify by 9.9% during the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after acquiring an additional 100 shares during the last quarter. First United Bank & Trust boosted its position in shares of Shopify by 2.2% during the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock valued at $488,000 after acquiring an additional 100 shares during the last quarter. Sunbelt Securities Inc. boosted its position in shares of Shopify by 0.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock valued at $1,162,000 after acquiring an additional 105 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. boosted its position in shares of Shopify by 3.3% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock valued at $357,000 after acquiring an additional 107 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. ATB Capital increased their target price on Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. Mizuho increased their target price on Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. increased their target price on Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Wedbush reiterated an “outperform” rating and set a $125.00 target price on shares of Shopify in a research report on Tuesday, February 11th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Shopify from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $126.31.

Shopify Price Performance

Shares of SHOP stock opened at $115.45 on Tuesday. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The stock’s 50-day moving average is $112.84 and its 200 day moving average is $95.93. The company has a market cap of $149.48 billion, a P/E ratio of 74.48, a PEG ratio of 4.82 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data 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 net margin of 22.74% and a return on equity of 12.00%. On average, analysts anticipate that Shopify Inc. will post 1.12 EPS for the current 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.