Loomis Sayles & Co. L P Sells 470,344 Shares of Shopify Inc. (NYSE:SHOP)

Loomis Sayles & Co. L P cut its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,612,866 shares of the software maker’s stock after selling 470,344 shares during the period. Shopify makes up about 167.9% of Loomis Sayles & Co. L P’s portfolio, making the stock its 14th biggest holding. Loomis Sayles & Co. L P owned about 1.13% of Shopify worth $1,553,786,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Cerity Partners LLC increased its holdings in shares of Shopify by 35.8% in the 3rd quarter. Cerity Partners LLC now owns 85,993 shares of the software maker’s stock worth $6,891,000 after buying an additional 22,667 shares during the last quarter. Centaurus Financial Inc. bought a new stake in Shopify during the third quarter worth approximately $104,000. Dynamic Technology Lab Private Ltd purchased a new stake in Shopify during the third quarter valued at approximately $660,000. Brown Brothers Harriman & Co. bought a new stake in shares of Shopify in the 3rd quarter valued at approximately $274,000. Finally, Truvestments Capital LLC purchased a new position in shares of Shopify in the 3rd quarter worth approximately $45,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SHOP. Jefferies Financial Group raised their price target on Shopify from $110.00 to $130.00 and gave the stock a “hold” rating in a research report on Tuesday, February 18th. Citigroup lifted their price target on shares of Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. JMP Securities reiterated a “market outperform” rating and set a $120.00 price target on shares of Shopify in a report on Thursday, December 12th. Piper Sandler raised their price objective 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. Finally, Barclays upped their target price on Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and an average price target of $126.31.

Shopify Trading Down 5.0 %

Shares of SHOP opened at $104.32 on Thursday. The firm has a market cap of $135.07 billion, a PE ratio of 67.30, a P/E/G 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. The stock has a fifty day moving average price of $110.36 and a 200-day moving average price of $100.34.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 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%. As a group, research analysts forecast that Shopify Inc. will post 1.12 EPS for the current 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.