Shopify Inc. (NYSE:SHOP) Shares Sold by Schwartz Investment Counsel Inc.

Schwartz Investment Counsel Inc. lowered its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 12.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 7,000 shares of the software maker’s stock after selling 1,000 shares during the quarter. Schwartz Investment Counsel Inc.’s holdings in Shopify were worth $744,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Oppenheimer increased their price objective on Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Truist Financial upped their price target on Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, November 13th. JMP Securities reissued a “market outperform” rating and issued a $120.00 price objective on shares of Shopify in a research note on Thursday, December 12th. Loop Capital raised Shopify from a “hold” rating to a “buy” rating and lifted their price target for the stock from $110.00 to $140.00 in a research report on Friday, December 6th. Finally, Mizuho increased their price target on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.80.

Shopify Stock Performance

Shares of NYSE:SHOP opened at $123.98 on Wednesday. The firm’s 50 day simple moving average is $111.05 and its 200 day simple moving average is $91.37. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The company has a market capitalization of $160.19 billion, a price-to-earnings ratio of 115.87, a P/E/G ratio of 2.49 and a beta of 2.47. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $125.95.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results 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 return on equity of 11.60% and a net margin of 16.84%. As a group, sell-side analysts forecast that Shopify Inc. will post 0.91 earnings per share for the current 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.