Shopify Inc. (NYSE:SHOP) Shares Sold by New World Advisors LLC

New World Advisors LLC reduced its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,719 shares of the software maker’s stock after selling 106 shares during the period. Shopify accounts for about 0.1% of New World Advisors LLC’s holdings, making the stock its 25th biggest holding. New World Advisors LLC’s holdings in Shopify were worth $608,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SHOP. New Wave Wealth Advisors LLC purchased a new position in Shopify during the fourth quarter worth about $39,000. Mather Group LLC. boosted its stake in Shopify by 84.8% during 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 during the period. Brooklyn Investment Group purchased a new position in Shopify during the third quarter worth about $33,000. Sierra Ocean LLC purchased a new position in Shopify during the fourth quarter worth about $46,000. Finally, Rosenberg Matthew Hamilton boosted its stake in Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after buying an additional 133 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SHOP has been the subject of several recent research reports. ATB Capital raised their price objective on shares of Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Canaccord Genuity Group raised their price objective on shares of Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Benchmark raised shares of Shopify from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research note on Monday, February 10th. The Goldman Sachs Group raised their price objective on shares of Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, UBS Group lifted their price target on shares of Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $126.31.

Shopify Stock Down 6.5 %

NYSE:SHOP opened at $115.40 on Monday. The stock has a market cap of $149.42 billion, a PE ratio of 74.45, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The firm’s fifty day simple moving average is $112.85 and its 200-day simple moving average is $95.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued 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%. Equities analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

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.