Shopify Inc. (NYSE:SHOP) Shares Sold by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC decreased its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,383 shares of the software maker’s stock after selling 1,440 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Shopify were worth $3,231,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in Shopify in the third quarter valued at approximately $33,000. New Wave Wealth Advisors LLC purchased a new stake in shares of Shopify in the fourth quarter valued at approximately $39,000. Mather Group LLC. increased its position 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 in the last quarter. Truvestments Capital LLC purchased a new stake in shares of Shopify in the third quarter valued at approximately $45,000. Finally, Sierra Ocean LLC purchased a new stake in shares of Shopify in the fourth quarter valued at approximately $46,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Trading Down 4.6 %

Shopify stock opened at $101.68 on Wednesday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The stock has a 50 day moving average of $112.65 and a two-hundred day moving average of $97.53. The stock has a market capitalization of $131.66 billion, a price-to-earnings ratio of 65.60, a PEG ratio of 4.82 and a beta of 2.47.

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

Analyst Ratings Changes

Several brokerages recently commented on SHOP. Evercore ISI boosted their price target on Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. boosted their price target on Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Canaccord Genuity Group boosted their price target on Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Wells Fargo & Company boosted their price target on Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley boosted their price target on Shopify from $126.00 to $144.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and a consensus target price of $126.31.

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.