Wellington Shields Capital Management LLC Decreases Position in Shopify Inc. (NYSE:SHOP)

Wellington Shields Capital Management LLC reduced its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,200 shares of the software maker’s stock after selling 300 shares during the period. Wellington Shields Capital Management LLC’s holdings in Shopify were worth $1,191,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Nations Financial Group Inc. IA ADV increased its holdings in shares of Shopify by 4.6% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker’s stock worth $381,000 after buying an additional 209 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Shopify during the third quarter worth about $1,011,000. Verus Capital Partners LLC purchased a new position in shares of Shopify in the 3rd quarter worth about $219,000. Prime Capital Investment Advisors LLC raised its holdings in shares of Shopify by 1.4% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 13,801 shares of the software maker’s stock worth $1,106,000 after purchasing an additional 195 shares during the period. Finally, Aptus Capital Advisors LLC increased its position in Shopify by 5.5% during the 3rd quarter. Aptus Capital Advisors LLC now owns 6,059 shares of the software maker’s stock worth $486,000 after purchasing an additional 315 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on SHOP shares. Royal Bank of Canada boosted their price objective on Shopify from $130.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. New Street Research assumed coverage on Shopify in a research report on Friday, January 10th. They set a “neutral” rating and a $115.00 price target on the stock. Phillip Securities cut shares of Shopify from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, February 17th. The Goldman Sachs Group upped their target price on shares of Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, Truist Financial upped their price objective on shares of Shopify from $110.00 to $120.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. One equities research 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Down 6.2 %

NYSE:SHOP opened at $90.51 on Friday. The firm has a market capitalization of $117.19 billion, a P/E ratio of 58.39, a P/E/G ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The company has a fifty day moving average of $111.17 and a 200 day moving average of $98.29.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its 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 22.74% and a return on equity of 12.00%. As a group, analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

About Shopify

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.