Shopify Inc. (NYSE:SHOP) Shares Sold by Paces Ferry Wealth Advisors LLC

Paces Ferry Wealth Advisors LLC decreased its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 12.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,930 shares of the software maker’s stock after selling 403 shares during the quarter. Paces Ferry Wealth Advisors LLC’s holdings in Shopify were worth $312,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SHOP. PFG Private Wealth Management LLC raised its stake in Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after purchasing an additional 256 shares during the period. New Wave Wealth Advisors LLC acquired a new position in Shopify during the fourth quarter valued at $39,000. Mather Group LLC. lifted its stake in 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 in the last quarter. Brooklyn Investment Group acquired a new stake in Shopify during the 3rd quarter worth about $33,000. Finally, Sierra Ocean LLC purchased a new position in Shopify during the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

NYSE SHOP opened at $104.29 on Friday. The company’s fifty day moving average is $110.04 and its two-hundred day moving average is $99.53. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The firm has a market capitalization of $135.04 billion, a price-to-earnings ratio of 67.29, a P/E/G ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced 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%. As a group, sell-side analysts expect that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Jefferies Financial Group increased their price target on shares of Shopify from $110.00 to $130.00 and gave the stock a “hold” rating in a research report on Tuesday, February 18th. Wedbush reissued an “outperform” rating and set a $125.00 target price on shares of Shopify in a research note on Tuesday, February 11th. Evercore ISI upped 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. Robert W. Baird lifted their price objective on Shopify from $126.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, TD Securities upped their target price on Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.31.

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.