Sei Investments Co. Has $267.27 Million Position in Shopify Inc. (NYSE:SHOP)

Sei Investments Co. reduced its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 16.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,513,567 shares of the software maker’s stock after selling 508,207 shares during the period. Sei Investments Co.’s holdings in Shopify were worth $267,267,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SHOP. Thrivent Financial for Lutherans raised its stake in Shopify by 100.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 88,409 shares of the software maker’s stock valued at $7,086,000 after purchasing an additional 44,345 shares during the period. Pathstone Holdings LLC raised its stake in Shopify by 3.8% during the 3rd quarter. Pathstone Holdings LLC now owns 68,800 shares of the software maker’s stock valued at $5,514,000 after purchasing an additional 2,487 shares during the period. Prospera Financial Services Inc raised its stake in Shopify by 1.7% during the 3rd quarter. Prospera Financial Services Inc now owns 20,991 shares of the software maker’s stock valued at $1,682,000 after purchasing an additional 349 shares during the period. Prospera Private Wealth LLC acquired a new position in shares of Shopify in the third quarter worth $98,000. Finally, First Horizon Advisors Inc. increased its stake in shares of Shopify by 11.2% in the third quarter. First Horizon Advisors Inc. now owns 6,485 shares of the software maker’s stock worth $520,000 after acquiring an additional 654 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on SHOP. Barclays upped their price target on shares of Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and upped their price target for the stock from $110.00 to $140.00 in a research note on Friday, December 6th. Oppenheimer upped their price target on shares of Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. DA Davidson upped their price target on shares of Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, UBS Group upped their price target on shares of Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Stock Up 2.4 %

NYSE:SHOP opened at $104.29 on Friday. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The firm has a market capitalization of $135.04 billion, a PE ratio of 67.29, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. The firm has a 50-day moving average price of $110.04 and a 200 day moving average price of $99.33.

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, research analysts expect that Shopify Inc. will post 1.12 EPS for the current year.

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.