Conservest Capital Advisors Inc. Decreases Position in Shopify Inc. (NYSE:SHOP)

Conservest Capital Advisors Inc. lessened its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 9.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,020 shares of the software maker’s stock after selling 400 shares during the period. Conservest Capital Advisors Inc.’s holdings in Shopify were worth $427,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SHOP. Brooklyn Investment Group purchased a new position in Shopify in the 3rd quarter valued at approximately $33,000. Rosenberg Matthew Hamilton boosted its position in Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after buying an additional 133 shares during the period. New Wave Wealth Advisors LLC acquired a new stake in shares of Shopify in the 4th quarter valued at $39,000. Mather Group LLC. raised 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 valued at $43,000 after purchasing an additional 184 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new stake in shares of Shopify in the 3rd quarter valued at $45,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SHOP shares. Piper Sandler raised their price objective on shares of Shopify from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Scotiabank raised 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. Cantor Fitzgerald restated a “neutral” rating and issued a $120.00 price objective on shares of Shopify in a report on Wednesday, February 12th. Oppenheimer raised their price objective on shares of Shopify from $130.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, Evercore ISI lifted their price target 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. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $126.31.

Shopify Stock Up 1.0 %

Shares of NYSE:SHOP opened at $111.97 on Friday. The company has a market cap of $144.98 billion, a price-to-earnings ratio of 72.24, a PEG ratio of 4.82 and a beta of 2.47. The firm’s 50-day simple moving average is $112.88 and its 200-day simple moving average is $96.75. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing analysts’ consensus estimates 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 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.