TCW Group Inc. Sells 68,866 Shares of Shopify Inc. (NYSE:SHOP)

TCW Group Inc. trimmed its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,239,879 shares of the software maker’s stock after selling 68,866 shares during the quarter. Shopify accounts for about 1.1% of TCW Group Inc.’s portfolio, making the stock its 23rd largest position. TCW Group Inc. owned 0.10% of Shopify worth $131,836,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SHOP. Baillie Gifford & Co. grew its holdings in Shopify by 14.7% during the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after acquiring an additional 8,131,160 shares during the last quarter. FMR LLC grew its holdings in Shopify by 16.1% during the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after acquiring an additional 5,869,795 shares during the last quarter. National Bank of Canada FI grew its holdings in Shopify by 28.0% during the 3rd quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock worth $593,588,000 after acquiring an additional 1,621,981 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Shopify by 52.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker’s stock worth $308,390,000 after acquiring an additional 1,325,350 shares during the last quarter. Finally, Jennison Associates LLC bought a new stake in Shopify during the 4th quarter worth approximately $132,323,000. 69.27% of the stock is owned by institutional investors.

Shopify Trading Down 6.5 %

Shares of Shopify stock opened at $115.40 on Friday. The stock has a fifty day simple moving average of $112.85 and a 200 day simple moving average of $95.38. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The company has a market capitalization of $149.42 billion, a P/E ratio of 74.45, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. On average, analysts predict that Shopify Inc. will post 1.12 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SHOP shares. Cantor Fitzgerald reissued a “neutral” rating and set a $120.00 target price on shares of Shopify in a report on Wednesday, February 12th. Citigroup upped their price objective on shares of Shopify from $143.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Shopify from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Barclays upped their price objective on shares of Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Finally, Piper Sandler increased their target price on shares of Shopify from $94.00 to $104.00 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 given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Company 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.