Shopify Inc. (NYSE:SHOP) Shares Sold by Delta Financial Group Inc.

Delta Financial Group Inc. trimmed its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 18.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,261 shares of the software maker’s stock after selling 518 shares during the period. Delta Financial Group Inc.’s holdings in Shopify were worth $240,000 at the end of the most recent reporting period.

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

Shopify Stock Down 6.5 %

Shares of NYSE SHOP opened at $115.40 on Monday. The business has a fifty day simple moving average of $112.85 and a 200-day simple moving average of $95.60. The company has a market cap of $149.42 billion, a price-to-earnings ratio of 74.45, a P/E/G ratio of 4.82 and a beta of 2.47. 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 quarterly earnings data 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%. As a group, sell-side analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SHOP shares. Mizuho raised their price target on shares of Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. KeyCorp raised their price objective on shares of Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Wedbush restated an “outperform” rating and issued a $125.00 target price on shares of Shopify in a research note on Tuesday, February 11th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $120.00 price target on shares of Shopify in a research report on Wednesday, February 12th. Finally, ATB Capital boosted their price objective on Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $126.31.

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.