Mission Wealth Management LP Sells 191 Shares of Shopify Inc. (NYSE:SHOP)

Mission Wealth Management LP trimmed its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,389 shares of the software maker’s stock after selling 191 shares during the period. Mission Wealth Management LP’s holdings in Shopify were worth $573,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Jennison Associates LLC bought a new position in shares of Shopify in the fourth quarter worth approximately $132,323,000. Swiss National Bank increased its position in shares of Shopify by 0.9% in the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock worth $293,507,000 after purchasing an additional 33,300 shares during the last quarter. Watts Gwilliam & Co. LLC increased its position in shares of Shopify by 53.0% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock worth $1,431,000 after purchasing an additional 4,641 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of 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 worth $27,409,000 after purchasing an additional 77,500 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in shares of Shopify by 26.4% in the third quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock worth $2,693,000 after purchasing an additional 7,027 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Evercore ISI increased their price target on shares of Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. UBS Group increased their price target on shares of Shopify from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Mizuho increased their price target on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Finally, DA Davidson increased their price target on shares of Shopify from $130.00 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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Trading Up 4.6 %

Shares of SHOP stock opened at $106.40 on Thursday. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The stock has a market cap of $137.77 billion, a PE ratio of 68.65, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47. The company’s fifty day moving average price is $112.57 and its 200-day moving average price is $97.59.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, February 11th. The software maker reported $0.34 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%. On average, sell-side 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.