Guggenheim Capital LLC Decreases Position in Shopify Inc. (NYSE:SHOP)

Guggenheim Capital LLC reduced its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 39.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,580 shares of the software maker’s stock after selling 4,295 shares during the period. Guggenheim Capital LLC’s holdings in Shopify were worth $700,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jennison Associates LLC purchased a new stake in shares of Shopify during the fourth quarter valued at approximately $132,323,000. Watts Gwilliam & Co. LLC increased its stake in Shopify by 53.0% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock worth $1,431,000 after buying an additional 4,641 shares during the period. Synovus Financial Corp acquired a new position in Shopify in the 3rd quarter worth $481,000. Western Financial Corp CA purchased a new position in Shopify in the 4th quarter valued at about $239,000. Finally, Kessler Investment Group LLC acquired a new stake in shares of Shopify during the fourth quarter valued at about $6,105,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of NYSE:SHOP opened at $95.12 on Friday. The company has a market capitalization of $123.16 billion, a PE ratio of 61.37, a price-to-earnings-growth ratio of 4.82 and a beta of 2.82. The stock has a fifty day moving average of $97.43 and a 200-day moving average of $101.69. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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%. As a group, research analysts forecast that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on SHOP. Mizuho cut their price target on Shopify from $110.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Oppenheimer raised their price target on shares of Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. CIBC lifted their price target on shares of Shopify from $135.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group reduced their price objective on shares of Shopify from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $119.66.

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.