Shopify Inc. (NYSE:SHOP) Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 8.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 389,487 shares of the software maker’s stock after selling 35,523 shares during the quarter. Truist Financial Corp’s holdings in Shopify were worth $41,414,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new position in shares of Shopify in the 3rd quarter worth approximately $33,000. Rosenberg Matthew Hamilton lifted its holdings in shares of Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after acquiring an additional 133 shares during the last quarter. New Wave Wealth Advisors LLC acquired a new position in shares of Shopify in the 4th quarter worth approximately $39,000. Mather Group LLC. lifted its holdings in shares of Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after acquiring an additional 184 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new position in shares of Shopify in the 3rd quarter worth approximately $45,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of Shopify from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Truist Financial upped their target price on shares of Shopify from $110.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. UBS Group upped their target price on shares of Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Royal Bank of Canada upped their target price on shares of Shopify from $130.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. upped their target price on shares of Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. One 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Stock Up 0.7 %

Shares of NYSE:SHOP opened at $129.20 on Wednesday. The stock has a market cap of $166.94 billion, a P/E ratio of 120.75, a P/E/G ratio of 2.49 and a beta of 2.47. The firm has a fifty day moving average price of $112.16 and a 200 day moving average price of $93.70. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results 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 11.60% and a net margin of 16.84%. Sell-side analysts predict that Shopify Inc. will post 0.91 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.