Sanctuary Advisors LLC Reduces Position in Shopify Inc. (NYSE:SHOP)

Sanctuary Advisors LLC decreased its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 142,346 shares of the software maker’s stock after selling 8,881 shares during the period. Sanctuary Advisors LLC’s holdings in Shopify were worth $15,136,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SHOP. Brooklyn Investment Group bought a new position in shares of Shopify during the third quarter valued at approximately $33,000. Rosenberg Matthew Hamilton raised 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 purchasing an additional 133 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new stake in shares of Shopify in the 4th quarter worth about $39,000. Mather Group LLC. boosted its stake in shares of 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 purchasing an additional 184 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new position in shares of Shopify during the third quarter valued at about $45,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on SHOP. DA Davidson increased their target price on Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Oppenheimer upped 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, February 12th. Morgan Stanley lifted their price target on shares of Shopify from $126.00 to $144.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Loop Capital upgraded shares of Shopify from a “hold” rating to a “buy” rating and upped their price objective for the stock from $110.00 to $140.00 in a report on Friday, December 6th. Finally, Robert W. Baird lifted their target price on shares of Shopify from $126.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $126.21.

Shopify Trading Up 0.6 %

Shares of SHOP stock opened at $128.36 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The company has a market cap of $165.85 billion, a price-to-earnings ratio of 119.96, a PEG ratio of 2.49 and a beta of 2.47. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $128.57. The firm has a fifty day moving average price of $111.90 and a 200-day moving average price of $93.20.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 16.84% and a return on equity of 11.60%. As a group, equities analysts predict that Shopify Inc. will post 0.91 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.