Thompson Siegel & Walmsley LLC Sells 2,200 Shares of Shopify Inc. (NYSE:SHOP)

Thompson Siegel & Walmsley LLC lowered its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 166,740 shares of the software maker’s stock after selling 2,200 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Shopify were worth $17,729,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SHOP. PFG Private Wealth Management LLC increased its holdings in shares of Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after buying an additional 256 shares during the period. New Wave Wealth Advisors LLC purchased a new position in shares of Shopify in the fourth quarter worth about $39,000. Mather Group LLC. increased its holdings in shares of Shopify by 84.8% in 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 period. Brooklyn Investment Group purchased a new position in shares of Shopify in the third quarter worth about $33,000. Finally, Sierra Ocean LLC purchased a new position in shares of Shopify in the fourth quarter worth about $46,000. Institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on SHOP shares. Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $110.00 to $140.00 in a report on Friday, December 6th. Canaccord Genuity Group lifted their price objective on Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. The Goldman Sachs Group boosted their price target on Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. ATB Capital boosted their price target on Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. Finally, Phillip Securities downgraded Shopify from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, February 17th. 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 issued a strong buy rating to the stock. According to MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Trading Up 3.9 %

SHOP stock opened at $96.54 on Thursday. The stock has a market capitalization of $125.00 billion, a PE ratio of 62.29, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The stock’s 50 day simple moving average is $111.51 and its 200 day simple moving average is $98.34.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. On average, research analysts predict that Shopify Inc. will post 1.12 earnings per share for the current year.

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.