Shopify Inc. (NYSE:SHOP) Shares Sold by DF Dent & Co. Inc.

DF Dent & Co. Inc. lowered its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,016 shares of the software maker’s stock after selling 1,578 shares during the period. DF Dent & Co. Inc.’s holdings in Shopify were worth $5,106,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allianz SE bought a new stake in shares of Shopify in the 4th quarter worth approximately $27,000. PFG Private Wealth Management LLC grew 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 worth $28,000 after buying an additional 256 shares during the last quarter. Mark Sheptoff Financial Planning LLC increased its position in Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after buying an additional 100 shares during the period. New Wave Wealth Advisors LLC bought a new stake in Shopify in the fourth quarter valued at $39,000. Finally, Mather Group LLC. boosted 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 valued at $43,000 after acquiring an additional 184 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SHOP has been the topic of a number of analyst reports. Wells Fargo & Company increased their price objective on shares of Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. The Goldman Sachs Group upped their target price on shares of Shopify from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. TD Securities lifted their price target on Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. Truist Financial increased their price objective on Shopify from $110.00 to $120.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. Finally, UBS Group raised their target price on Shopify from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and an average price target of $126.31.

Shopify Price Performance

Shopify stock opened at $100.65 on Thursday. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The firm’s 50 day simple moving average is $109.77 and its 200-day simple moving average is $101.33. The company has a market cap of $130.32 billion, a P/E ratio of 64.94, a price-to-earnings-growth ratio of 4.82 and a beta of 2.81.

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