Wrapmanager Inc. Has $1.19 Million Stake in Shopify Inc. (NYSE:SHOP)

Wrapmanager Inc. reduced its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 17.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,226 shares of the software maker’s stock after selling 2,348 shares during the quarter. Wrapmanager Inc.’s holdings in Shopify were worth $1,194,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in SHOP. Dakota Wealth Management lifted its holdings in shares of Shopify by 14.9% during the third quarter. Dakota Wealth Management now owns 8,916 shares of the software maker’s stock worth $715,000 after buying an additional 1,157 shares during the last quarter. Ballentine Partners LLC bought a new position in Shopify during the third quarter worth $415,000. Lake Street Advisors Group LLC acquired a new position in Shopify during the 3rd quarter valued at $201,000. Arkadios Wealth Advisors boosted its holdings in Shopify by 2.8% in the 3rd quarter. Arkadios Wealth Advisors now owns 13,486 shares of the software maker’s stock valued at $1,081,000 after purchasing an additional 367 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its position in Shopify by 5.9% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 524,986 shares of the software maker’s stock worth $41,557,000 after purchasing an additional 29,425 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Price Performance

Shares of NYSE SHOP opened at $115.45 on Tuesday. The company’s 50 day simple moving average is $112.84 and its 200 day simple moving average is $95.93. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The firm has a market capitalization of $149.48 billion, a P/E ratio of 74.48, a P/E/G ratio of 4.82 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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%. Sell-side analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analysts Set New Price Targets

SHOP has been the subject of a number of research analyst reports. ATB Capital upped their price objective on shares of Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. Royal Bank of Canada raised their price objective on Shopify from $130.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. TD Securities lifted their price objective on Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. Benchmark upgraded Shopify from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research note on Monday, February 10th. Finally, Morgan Stanley lifted their price target on shares of Shopify from $126.00 to $144.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and an average target price 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.