O Dell Group LLC Reduces Position in Shopify Inc. (NYSE:SHOP)

O Dell Group LLC lessened its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 9.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,974 shares of the software maker’s stock after selling 799 shares during the quarter. O Dell Group LLC’s holdings in Shopify were worth $848,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SHOP. PFG Private Wealth Management LLC raised its holdings in Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after purchasing an additional 256 shares in the last quarter. Brooklyn Investment Group bought a new position in Shopify in the third quarter worth $33,000. New Wave Wealth Advisors LLC bought a new position in Shopify in the fourth quarter worth $39,000. Mather Group LLC. raised its holdings in Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after purchasing an additional 184 shares in the last quarter. Finally, Truvestments Capital LLC bought a new position in Shopify in the third quarter worth $45,000. Institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

SHOP has been the subject of a number of research reports. Truist Financial increased their price objective on Shopify from $110.00 to $120.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. ATB Capital raised their price target on Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. Barclays raised their price target on Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. KeyCorp raised their price target on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, DA Davidson raised their price target on Shopify from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Trading Down 7.6 %

Shares of NYSE:SHOP opened at $92.49 on Tuesday. The stock has a 50 day moving average of $111.97 and a 200 day moving average of $98.24. The company has a market cap of $119.76 billion, a PE ratio of 59.67, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) 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%. Equities research analysts predict that Shopify Inc. will post 1.12 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.