National Wealth Management Group LLC Sells 595 Shares of Shopify Inc. (NYSE:SHOP)

National Wealth Management Group LLC lessened its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 22.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,020 shares of the software maker’s stock after selling 595 shares during the quarter. National Wealth Management Group LLC’s holdings in Shopify were worth $215,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SHOP. Allianz SE bought a new position in Shopify during the fourth quarter worth about $27,000. PFG Private Wealth Management LLC boosted its stake in Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after acquiring an additional 256 shares during the last quarter. Mark Sheptoff Financial Planning LLC grew its holdings in Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after purchasing an additional 100 shares during the period. New Wave Wealth Advisors LLC bought a new stake in Shopify in the fourth quarter valued at approximately $39,000. Finally, 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 during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

SHOP has been the subject of several research analyst reports. DA Davidson boosted their price target on shares of Shopify from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Jefferies Financial Group boosted their target price on Shopify from $110.00 to $130.00 and gave the company a “hold” rating in a research note on Tuesday, February 18th. Scotiabank raised their price target on Shopify from $115.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. Phillip Securities lowered Shopify from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, February 17th. Finally, New Street Research started coverage on Shopify in a research note on Friday, January 10th. They set a “neutral” rating and a $115.00 target price for the company. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Trading Down 1.2 %

SHOP opened at $95.48 on Tuesday. The stock’s fifty day simple moving average is $110.06 and its 200 day simple moving average is $101.15. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The stock has a market cap of $123.63 billion, a PE ratio of 61.60, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60.

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 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%. Equities analysts forecast that Shopify Inc. will post 1.12 earnings per share 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.