Shopify Inc. (NYSE:SHOP) Shares Sold by Spinnaker Trust

Spinnaker Trust lowered its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 24.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,137 shares of the software maker’s stock after selling 700 shares during the quarter. Spinnaker Trust’s holdings in Shopify were worth $227,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in Shopify during the 3rd quarter valued at $33,000. Rosenberg Matthew Hamilton increased its stake in Shopify by 41.3% during 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 during the period. New Wave Wealth Advisors LLC purchased a new stake in Shopify during the 4th quarter worth $39,000. Mather Group LLC. increased its stake 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 buying an additional 184 shares during the period. Finally, Truvestments Capital LLC purchased a new stake in Shopify during the 3rd quarter worth $45,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SHOP. ATB Capital lifted their price target on shares of Shopify from $145.00 to $170.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Mizuho lifted their price target on shares of Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Robert W. Baird boosted their target price on shares of Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday. Oppenheimer boosted their target price on shares of Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Moffett Nathanson boosted their target price on shares of Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, fourteen have given 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.com, Shopify has a consensus rating of “Moderate Buy” and a consensus target price of $126.21.

Shopify Trading Up 0.6 %

Shares of NYSE:SHOP opened at $128.36 on Friday. The company has a 50 day moving average of $111.90 and a 200-day moving average of $92.75. The firm has a market cap of $165.85 billion, a P/E ratio of 119.96, a P/E/G ratio of 2.49 and a beta of 2.47. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $128.57. 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 (NYSE:SHOP) (TSE:SHOP) last issued 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 return on equity of 11.60% and a net margin of 16.84%. As a group, analysts anticipate that Shopify Inc. will post 0.91 earnings per share for the current fiscal 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.