TFB Advisors LLC Sells 110 Shares of Shopify Inc. (NYSE:SHOP)

TFB Advisors LLC decreased its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,502 shares of the software maker’s stock after selling 110 shares during the quarter. TFB Advisors LLC’s holdings in Shopify were worth $372,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Baillie Gifford & Co. boosted its position in shares of Shopify by 14.7% in the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after purchasing an additional 8,131,160 shares in the last quarter. FMR LLC raised its stake in Shopify by 16.1% during the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after buying an additional 5,869,795 shares during the last quarter. National Bank of Canada FI raised its stake in Shopify by 28.0% during the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after buying an additional 1,621,981 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Shopify by 52.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker’s stock worth $308,390,000 after acquiring an additional 1,325,350 shares in the last quarter. Finally, Jennison Associates LLC purchased a new stake in shares of Shopify in the fourth quarter worth $132,323,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

SHOP opened at $120.46 on Thursday. The company has a 50 day simple moving average of $111.29 and a two-hundred day simple moving average of $91.82. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The firm has a market cap of $155.65 billion, a P/E ratio of 112.58, a PEG ratio of 2.49 and a beta of 2.47. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $125.95.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 11.60% and a net margin of 16.84%. Equities analysts forecast that Shopify Inc. will post 0.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SHOP. JPMorgan Chase & Co. lifted their price target on Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday. Robert W. Baird lifted their target price on shares of Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday. Scotiabank increased their price target on shares of Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a report on Wednesday. Oppenheimer boosted their price objective on shares of Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, CIBC upped their price objective on Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $125.14.

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.