Shopify Inc. (NYSE:SHOP) Position Lowered by Federated Hermes Inc.

Federated Hermes Inc. reduced its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,498,838 shares of the software maker’s stock after selling 52,716 shares during the quarter. Federated Hermes Inc. owned approximately 0.12% of Shopify worth $159,371,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC raised its position in shares of Shopify by 2.1% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 32,078 shares of the software maker’s stock valued at $2,571,000 after acquiring an additional 655 shares in the last quarter. IHT Wealth Management LLC increased its stake in Shopify by 13.6% during the third quarter. IHT Wealth Management LLC now owns 8,472 shares of the software maker’s stock valued at $678,000 after purchasing an additional 1,011 shares during the last quarter. Royal London Asset Management Ltd. raised its holdings in shares of Shopify by 1.6% during the third quarter. Royal London Asset Management Ltd. now owns 329,882 shares of the software maker’s stock worth $26,437,000 after purchasing an additional 5,108 shares during the period. Quantinno Capital Management LP raised its holdings in shares of Shopify by 47.0% during the third quarter. Quantinno Capital Management LP now owns 38,951 shares of the software maker’s stock worth $3,122,000 after purchasing an additional 12,455 shares during the period. Finally, EP Wealth Advisors LLC lifted its position in shares of Shopify by 26.3% in the 3rd quarter. EP Wealth Advisors LLC now owns 12,496 shares of the software maker’s stock worth $1,001,000 after buying an additional 2,602 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Down 6.6 %

Shares of SHOP opened at $76.89 on Friday. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The stock has a market capitalization of $99.56 billion, a P/E ratio of 49.61, a P/E/G ratio of 4.82 and a beta of 2.81. The business’s 50-day moving average price is $108.67 and its 200 day moving average price is $101.41.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results 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 return on equity of 12.00% and a net margin of 22.74%. On average, research analysts predict that Shopify Inc. will post 1.12 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SHOP. CIBC raised their target price on shares of Shopify from $135.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Benchmark raised Shopify from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a report on Monday, February 10th. Wells Fargo & Company upped their price objective on Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Jefferies Financial Group raised 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. Finally, Truist Financial boosted their price target on shares of Shopify from $110.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Shopify has an average rating of “Moderate Buy” and an average target price of $126.31.

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.