Valmark Advisers Inc. Cuts Stock Holdings in Shopify Inc. (NYSE:SHOP)

Valmark Advisers Inc. lowered its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,719 shares of the software maker’s stock after selling 148 shares during the period. Valmark Advisers Inc.’s holdings in Shopify were worth $1,140,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new stake in shares of Shopify in the 3rd quarter worth $33,000. Rosenberg Matthew Hamilton increased its holdings in Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after buying an additional 133 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new position in Shopify in the 4th quarter worth about $39,000. Mather Group LLC. lifted its stake in Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after acquiring an additional 184 shares during the period. Finally, Truvestments Capital LLC purchased a new stake in shares of Shopify during the 3rd quarter valued at about $45,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Price Performance

Shares of Shopify stock opened at $128.36 on Tuesday. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $128.57. The stock has a 50 day moving average of $111.90 and a 200 day moving average of $93.20. The firm has a market cap of $165.85 billion, a PE ratio of 119.96, a PEG ratio of 2.49 and a beta of 2.47.

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 16.84% and a return on equity of 11.60%. On average, research analysts expect that Shopify Inc. will post 0.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SHOP. Oppenheimer boosted their price objective on shares of Shopify from $130.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. increased their price target on Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and raised their price target for the stock from $110.00 to $140.00 in a research note on Friday, December 6th. Scotiabank upped their price objective on Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. Finally, Barclays raised their target price on Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $126.21.

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.