Shopify Inc. (NYSE:SHOP) Stake Lessened by Schwartz Investment Counsel Inc.

Schwartz Investment Counsel Inc. decreased its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 12.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Jennison Associates LLC acquired a new position in shares of Shopify in the 4th quarter worth $132,323,000. Swiss National Bank raised its holdings in shares of Shopify by 0.9% during the 3rd 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 in the last quarter. Watts Gwilliam & Co. LLC boosted its stake in shares of 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 acquiring an additional 4,641 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of 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 period. Finally, Oppenheimer & Co. Inc. lifted its position in Shopify by 26.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock worth $2,693,000 after acquiring an additional 7,027 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

NYSE:SHOP opened at $123.98 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The stock has a market capitalization of $160.19 billion, a P/E ratio of 115.87, a PEG 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. The company has a 50 day moving average price of $111.05 and a 200 day moving average price of $91.37.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued 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 11.60% and a net margin of 16.84%. Equities research analysts forecast that Shopify Inc. will post 0.91 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Robert W. Baird upped their price target on Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Oppenheimer increased their price target on Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Mizuho boosted their target price on shares of Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $130.00 price objective on shares of Shopify in a research report on Wednesday, January 22nd. Finally, KeyCorp upped their target price on shares of Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.80.

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.