Oarsman Capital Inc. Has $49,000 Stock Position in Shopify Inc. (NYSE:SHOP)

Oarsman Capital Inc. cut its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 28.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 458 shares of the software maker’s stock after selling 181 shares during the quarter. Oarsman Capital Inc.’s holdings in Shopify were worth $49,000 as of its most recent SEC filing.

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

Shopify Stock Down 6.6 %

Shares of NYSE:SHOP opened at $76.89 on Monday. The company’s fifty day moving average is $108.67 and its 200 day moving average is $101.59. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The stock has a market cap of $99.56 billion, a PE ratio of 49.61, a PEG ratio of 4.82 and a beta of 2.81.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (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%. Sell-side analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently commented on the company. Piper Sandler upped their price target on Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft boosted their price objective on Shopify from $125.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. The Goldman Sachs Group raised their price objective on Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. New Street Research started coverage on shares of Shopify in a research note on Friday, January 10th. They issued a “neutral” rating and a $115.00 target price for the company. Finally, Citigroup raised their price target on shares of Shopify from $143.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.