DF Dent & Co. Inc. Cuts Position in Shopify Inc. (NYSE:SHOP)

DF Dent & Co. Inc. lowered its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,016 shares of the software maker’s stock after selling 1,578 shares during the period. DF Dent & Co. Inc.’s holdings in Shopify were worth $5,106,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allianz SE acquired a new stake in shares of Shopify during the 4th quarter valued at approximately $27,000. PFG Private Wealth Management LLC boosted its position in shares of Shopify by 3,657.1% in the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after buying an additional 256 shares in the last quarter. Mark Sheptoff Financial Planning LLC boosted its position in shares of Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after buying an additional 100 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new stake in shares of Shopify in the fourth quarter valued at approximately $39,000. Finally, Mather Group LLC. increased its position in Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after buying an additional 184 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of Shopify stock opened at $100.65 on Thursday. The firm has a market cap of $130.32 billion, a PE ratio of 64.94, a price-to-earnings-growth ratio of 4.82 and a beta of 2.81. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The firm’s 50-day simple moving average is $109.77 and its 200-day simple moving average is $101.33.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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 predict that Shopify Inc. will post 1.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

SHOP has been the subject of several analyst reports. JMP Securities reissued a “market outperform” rating and issued a $120.00 target price on shares of Shopify in a research note on Thursday, December 12th. JPMorgan Chase & Co. boosted their price objective on shares of Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Benchmark raised shares of Shopify from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research report on Monday, February 10th. Finally, New Street Research initiated coverage on shares of Shopify in a research report on Friday, January 10th. They issued a “neutral” rating and a $115.00 price objective for the company. One 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.