Private Advisor Group LLC Sells 1,395 Shares of Shopify Inc. (NYSE:SHOP)

Private Advisor Group LLC lessened its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,849 shares of the software maker’s stock after selling 1,395 shares during the period. Private Advisor Group LLC’s holdings in Shopify were worth $5,938,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New Wave Wealth Advisors LLC bought a new stake in shares of Shopify during the fourth quarter valued at approximately $39,000. Mather Group LLC. raised its stake in shares of Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after acquiring an additional 184 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Shopify during the third quarter valued at approximately $33,000. Sierra Ocean LLC bought a new stake in shares of Shopify during the fourth quarter valued at approximately $46,000. Finally, Rosenberg Matthew Hamilton raised 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 valued at $36,000 after acquiring an additional 133 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Canaccord Genuity Group lifted their price target on shares of Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group lifted their price objective on shares of Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and lifted their price objective for the company from $110.00 to $140.00 in a report on Friday, December 6th. Citigroup lifted their price objective on shares of Shopify from $143.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, Scotiabank lifted their price objective on shares of Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Price Performance

NYSE SHOP opened at $115.40 on Friday. The company has a market capitalization of $149.10 billion, a PE ratio of 74.45, a P/E/G ratio of 4.98 and a beta of 2.47. The company has a fifty day moving average of $112.85 and a 200 day moving average of $95.10. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (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%. Research analysts expect that Shopify Inc. will post 1.12 earnings per share for the current year.

About Shopify

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.