IPG Investment Advisors LLC Sells 1,155 Shares of Shopify Inc. (NYSE:SHOP)

IPG Investment Advisors LLC lowered its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 23.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,863 shares of the software maker’s stock after selling 1,155 shares during the period. IPG Investment Advisors LLC’s holdings in Shopify were worth $411,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Allianz SE purchased a new stake in shares of Shopify during the fourth quarter worth about $27,000. PFG Private Wealth Management LLC grew its holdings in Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after buying an additional 256 shares in the last quarter. Mark Sheptoff Financial Planning LLC raised its position in shares of Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after buying an additional 100 shares during the last quarter. New Wave Wealth Advisors LLC bought a new stake in shares of Shopify during the fourth quarter valued at approximately $39,000. Finally, Mather Group LLC. lifted its holdings in shares of Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after buying an additional 184 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SHOP. Benchmark upgraded shares of Shopify from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a report on Monday, February 10th. The Goldman Sachs Group raised their price objective on Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Citigroup boosted their target price on Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. DA Davidson raised their price target on Shopify from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, New Street Research started coverage on Shopify in a report on Friday, January 10th. They set a “neutral” rating and a $115.00 price objective on the stock. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Trading Down 5.9 %

Shares of Shopify stock opened at $96.51 on Friday. The stock’s fifty day moving average price is $110.21 and its 200-day moving average price is $100.78. The firm has a market cap of $124.96 billion, a P/E ratio of 62.27, a P/E/G ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted 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%. Analysts forecast that Shopify Inc. will post 1.12 earnings per share 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.