Conservest Capital Advisors Inc. Reduces Position in Shopify Inc. (NYSE:SHOP)

Conservest Capital Advisors Inc. trimmed its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 9.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,020 shares of the software maker’s stock after selling 400 shares during the quarter. Conservest Capital Advisors Inc.’s holdings in Shopify were worth $427,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Jennison Associates LLC purchased a new stake in Shopify in the fourth quarter valued at $132,323,000. Swiss National Bank boosted its holdings in Shopify by 0.9% in the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock valued at $293,507,000 after purchasing an additional 33,300 shares during the last quarter. Watts Gwilliam & Co. LLC boosted its holdings in Shopify by 53.0% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after purchasing an additional 4,641 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in Shopify by 29.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock valued at $27,409,000 after purchasing an additional 77,500 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in Shopify by 26.4% in the third quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock valued at $2,693,000 after purchasing an additional 7,027 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Price Performance

Shares of NYSE SHOP opened at $111.97 on Friday. The company has a 50 day simple moving average of $112.88 and a 200-day simple moving average of $96.75. The company has a market capitalization of $144.98 billion, a P/E ratio of 72.24, a P/E/G ratio of 4.82 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 announced its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (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, research analysts expect that Shopify Inc. will post 1.12 EPS for the current year.

Wall Street Analyst Weigh In

SHOP has been the topic of several recent research reports. TD Securities upped their price target on shares of Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. Phillip Securities lowered shares of Shopify from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, February 17th. New Street Research assumed coverage on shares of Shopify in a research note on Friday, January 10th. They set a “neutral” rating and a $115.00 target price on the stock. Jefferies Financial Group increased their target price on shares of Shopify from $110.00 to $130.00 and gave the stock a “hold” rating in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company increased their target price on shares of Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. One 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.