Shopify Inc. (NYSE:SHOP) Shares Sold by Investors Asset Management of Georgia Inc. GA ADV

Investors Asset Management of Georgia Inc. GA ADV reduced its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 26.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,325 shares of the software maker’s stock after selling 825 shares during the period. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Shopify were worth $247,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SHOP. Brooklyn Investment Group acquired a new stake in Shopify during the 3rd quarter worth $33,000. Rosenberg Matthew Hamilton boosted its stake in shares of Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after buying an additional 133 shares during the period. New Wave Wealth Advisors LLC purchased a new position in shares of Shopify during the fourth quarter worth about $39,000. Mather Group LLC. grew its holdings in shares of Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after buying an additional 184 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new position in Shopify in the 3rd quarter valued at about $45,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SHOP shares. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $120.00 price objective on shares of Shopify in a research report on Wednesday, February 12th. Truist Financial lifted 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. New Street Research initiated coverage on shares of Shopify in a research report on Friday, January 10th. They set a “neutral” rating and a $115.00 price objective for the company. Evercore ISI raised their target price on shares of Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, Benchmark upgraded shares of Shopify from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research note on Monday, February 10th. One 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 given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Price Performance

Shopify stock opened at $123.19 on Friday. The stock has a market capitalization of $159.18 billion, a P/E ratio of 79.48, a P/E/G ratio of 4.98 and a beta of 2.47. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The firm’s 50-day moving average is $112.84 and its two-hundred day moving average is $94.66.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS 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%. As a group, 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.