Shopify Inc. (NYSE:SHOP) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. trimmed its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 9.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,945 shares of the software maker’s stock after selling 637 shares during the period. Moors & Cabot Inc.’s holdings in Shopify were worth $632,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. PFG Private Wealth Management LLC grew its position in shares of Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after acquiring an additional 256 shares during the period. New Wave Wealth Advisors LLC acquired a new stake in 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. Brooklyn Investment Group acquired a new position in shares of Shopify during the 3rd quarter worth approximately $33,000. Finally, Sierra Ocean LLC purchased a new position in shares of Shopify during the 4th quarter valued at approximately $46,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Up 4.7 %

Shares of SHOP opened at $94.88 on Friday. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The stock has a 50 day moving average price of $110.88 and a 200 day moving average price of $98.43. The company has a market capitalization of $122.86 billion, a price-to-earnings ratio of 61.22, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. On average, equities analysts anticipate that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SHOP shares. JMP Securities reissued a “market outperform” rating and issued a $120.00 price target on shares of Shopify in a report on Thursday, December 12th. DZ Bank downgraded shares of Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. boosted their price objective on Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Wedbush restated an “outperform” rating and issued a $125.00 target price on shares of Shopify in a research report on Tuesday, February 11th. Finally, Truist Financial boosted their price target on Shopify from $110.00 to $120.00 and gave the stock a “hold” rating in a research report on Wednesday, February 12th. One equities 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 issued a strong buy rating to the company. Based on data from MarketBeat, Shopify has an average rating of “Moderate Buy” and a consensus 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.