Shopify Inc. (NYSE:SHOP) Shares Sold by Paces Ferry Wealth Advisors LLC

Paces Ferry Wealth Advisors LLC trimmed its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 12.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,930 shares of the software maker’s stock after selling 403 shares during the period. Paces Ferry Wealth Advisors LLC’s holdings in Shopify were worth $312,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SHOP. Optimum Investment Advisors raised its holdings in Shopify by 14.8% in the fourth quarter. Optimum Investment Advisors now owns 4,547 shares of the software maker’s stock valued at $483,000 after buying an additional 587 shares during the period. Guardian Partners Inc. acquired a new stake in shares of Shopify in the fourth quarter worth $1,683,000. Hillsdale Investment Management Inc. increased its position in shares of Shopify by 610.1% in the fourth quarter. Hillsdale Investment Management Inc. now owns 602,134 shares of the software maker’s stock worth $64,015,000 after acquiring an additional 517,339 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Shopify by 1.1% in the 4th quarter. American Century Companies Inc. now owns 1,463,559 shares of the software maker’s stock valued at $155,653,000 after acquiring an additional 16,619 shares during the period. Finally, Virtu Financial LLC acquired a new position in shares of Shopify during the 4th quarter valued at $3,315,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Price Performance

Shares of Shopify stock opened at $104.29 on Friday. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The company has a market capitalization of $135.04 billion, a P/E ratio of 67.29, a PEG ratio of 4.82 and a beta of 2.60. The business’s fifty day moving average price is $110.04 and its two-hundred day moving average price is $99.53.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates 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 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. New Street Research initiated coverage on Shopify in a research report on Friday, January 10th. They issued a “neutral” rating and a $115.00 price objective on the stock. Jefferies Financial Group boosted their price target on Shopify from $110.00 to $130.00 and gave the stock a “hold” rating in a research report on Tuesday, February 18th. UBS Group increased their price objective on shares of Shopify from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Oppenheimer boosted their target price on shares of Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Finally, Barclays upped their target price on shares of Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.