Andra AP fonden Sells 14,600 Shares of Shopify Inc. (NYSE:SHOP)

Andra AP fonden lowered its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 8.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,800 shares of the software maker’s stock after selling 14,600 shares during the quarter. Andra AP fonden’s holdings in Shopify were worth $17,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of SHOP. Asset Management One Co. Ltd. boosted its stake in Shopify by 61.7% in the third quarter. Asset Management One Co. Ltd. now owns 99,620 shares of the software maker’s stock worth $7,984,000 after buying an additional 37,996 shares in the last quarter. QRG Capital Management Inc. purchased a new stake in Shopify in the third quarter worth approximately $227,000. Blake Schutter Theil Wealth Advisors LLC purchased a new stake in Shopify in the third quarter worth approximately $209,000. Graypoint LLC boosted its stake in Shopify by 27.6% in the third quarter. Graypoint LLC now owns 6,268 shares of the software maker’s stock worth $502,000 after buying an additional 1,356 shares in the last quarter. Finally, Portside Wealth Group LLC boosted its stake in Shopify by 35.0% in the third quarter. Portside Wealth Group LLC now owns 77,342 shares of the software maker’s stock worth $6,198,000 after buying an additional 20,062 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

Shares of NYSE:SHOP opened at $100.00 on Friday. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The business has a fifty day moving average price of $112.26 and a 200-day moving average price of $97.80. The company has a market capitalization of $129.48 billion, a PE ratio of 64.52, a PEG ratio of 4.82 and a beta of 2.47.

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 the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. On average, sell-side analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on SHOP shares. Benchmark raised 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. CIBC increased their price objective on Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Jefferies Financial Group increased their price objective on Shopify from $110.00 to $130.00 and gave the company a “hold” rating in a research note on Tuesday, February 18th. TD Securities increased their price objective on Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. Finally, Mizuho increased their price objective on Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Shopify presently 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.