Investors Asset Management of Georgia Inc. GA ADV Cuts Stock Position in Shopify Inc. (NYSE:SHOP)

Investors Asset Management of Georgia Inc. GA ADV trimmed its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 26.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,325 shares of the software maker’s stock after selling 825 shares during the period. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Shopify were worth $247,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SHOP. Baillie Gifford & Co. lifted its stake in Shopify by 14.7% in the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after buying an additional 8,131,160 shares in the last quarter. FMR LLC lifted its position in shares of Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after acquiring an additional 5,869,795 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of Shopify by 28.0% in the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock worth $593,588,000 after acquiring an additional 1,621,981 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Shopify by 52.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker’s stock worth $308,390,000 after purchasing an additional 1,325,350 shares in the last quarter. Finally, Jennison Associates LLC acquired a new position in Shopify in the 4th quarter valued at $132,323,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

SHOP stock opened at $123.19 on Friday. The business’s 50-day moving average is $112.84 and its two-hundred day moving average is $94.66. The firm has a market capitalization of $159.18 billion, a P/E ratio of 79.48, a P/E/G ratio of 4.98 and a beta of 2.47. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results 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 net margin of 22.74% and a return on equity of 12.00%. On average, analysts expect that Shopify Inc. will post 1.12 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SHOP. Piper Sandler lifted their target price on shares of Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Oppenheimer upped their price objective on shares of Shopify from $130.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. KeyCorp raised their target price on shares of Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. upped their price target on Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Finally, Truist Financial increased their price target on Shopify from $110.00 to $120.00 and gave the company a “hold” rating in a 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 given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $126.31.

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.