Cobblestone Capital Advisors LLC NY Sells 163,920 Shares of Shopify Inc. (NYSE:SHOP)

Cobblestone Capital Advisors LLC NY decreased its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 69.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,428 shares of the software maker’s stock after selling 163,920 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Shopify were worth $7,489,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SHOP. Jennison Associates LLC bought a new position in shares of Shopify in the fourth quarter worth $132,323,000. Swiss National Bank increased its position in shares of Shopify by 0.9% in the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock worth $293,507,000 after purchasing an additional 33,300 shares during the period. Watts Gwilliam & Co. LLC increased its position in shares of Shopify by 53.0% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock worth $1,431,000 after purchasing an additional 4,641 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake 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 buying an additional 77,500 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake 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 buying an additional 7,027 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Up 1.0 %

Shares of Shopify stock opened at $111.97 on Friday. The stock has a fifty day simple moving average of $112.88 and a 200 day simple moving average of $96.75. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The company has a market capitalization of $144.98 billion, a P/E ratio of 72.24, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47.

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

Analyst Ratings Changes

Several analysts recently weighed in on SHOP shares. Citigroup raised their price objective on Shopify from $143.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Canaccord Genuity Group lifted their price target on Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Morgan Stanley lifted their price objective on Shopify from $126.00 to $144.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Jefferies Financial Group lifted their price objective on Shopify from $110.00 to $130.00 and gave the stock a “hold” rating in a research note on Tuesday, February 18th. Finally, DA Davidson lifted their price objective on Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock 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.