Compagnie Lombard Odier SCmA Reduces Stake in Shopify Inc. (NYSE:SHOP)

Compagnie Lombard Odier SCmA lowered its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 48.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,700 shares of the software maker’s stock after selling 2,550 shares during the period. Compagnie Lombard Odier SCmA’s holdings in Shopify were worth $287,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Brooklyn Investment Group purchased a new stake in Shopify in the 3rd quarter worth approximately $33,000. Rosenberg Matthew Hamilton boosted its position in Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new stake in Shopify in the 4th quarter worth approximately $39,000. Mather Group LLC. boosted its position in Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after purchasing an additional 184 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new stake in Shopify in the 3rd quarter worth approximately $45,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of Shopify stock opened at $128.36 on Friday. The business has a 50-day moving average of $111.70 and a 200 day moving average of $92.27. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $128.57. The stock has a market capitalization of $165.85 billion, a price-to-earnings ratio of 119.96, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10.

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on SHOP. Atb Cap Markets downgraded Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Truist Financial increased their price objective on Shopify from $110.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday. New Street Research began coverage on Shopify in a research note on Friday, January 10th. They issued a “neutral” rating and a $115.00 price objective for the company. ATB Capital increased their price objective on Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research note on Wednesday. Finally, Barclays increased their price objective on Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $126.21.

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.