Johnson Investment Counsel Inc. Sells 798 Shares of Shopify Inc. (NYSE:SHOP)

Johnson Investment Counsel Inc. trimmed its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 12.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,383 shares of the software maker’s stock after selling 798 shares during the period. Johnson Investment Counsel Inc.’s holdings in Shopify were worth $572,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SHOP. FMR LLC lifted its position in shares of Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after buying an additional 5,869,795 shares during the last quarter. National Bank of Canada FI lifted its position in shares of Shopify by 28.0% in the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after buying an additional 1,621,981 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Shopify by 52.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker’s stock valued at $308,390,000 after buying an additional 1,325,350 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of Shopify in the fourth quarter valued at approximately $132,323,000. Finally, Congress Asset Management Co. acquired a new stake in shares of Shopify in the fourth quarter valued at approximately $84,074,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on SHOP. Royal Bank of Canada raised their price objective on Shopify from $130.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Moffett Nathanson lifted their price target on Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Barclays lifted their price target on Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Citigroup lifted their price target on Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, Robert W. Baird lifted their price target on Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Stock Up 3.9 %

Shares of SHOP stock opened at $96.54 on Thursday. The firm has a market capitalization of $125.00 billion, a P/E ratio of 62.29, a P/E/G ratio of 4.82 and a beta of 2.60. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The stock’s fifty day simple moving average is $111.51 and its 200 day simple moving average is $98.34.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data 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 12.00% and a net margin of 22.74%. As a group, equities research analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

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.