Shopify Inc. (NYSE:SHOP) Shares Sold by Cravens & Co Advisors LLC

Cravens & Co Advisors LLC cut its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 31.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,108 shares of the software maker’s stock after selling 3,755 shares during the period. Cravens & Co Advisors LLC’s holdings in Shopify were worth $862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also bought and sold shares of SHOP. Allianz SE acquired a new position in shares of Shopify in the fourth quarter valued at approximately $27,000. PFG Private Wealth Management LLC grew its stake in shares of Shopify by 3,657.1% during 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 in the last quarter. Mark Sheptoff Financial Planning LLC raised its position in shares of Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new stake in shares of Shopify during the 4th quarter worth approximately $39,000. Finally, Mather Group LLC. grew its position in shares of Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after buying an additional 184 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Up 1.4 %

NYSE SHOP opened at $83.91 on Wednesday. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The firm has a market capitalization of $108.65 billion, a P/E ratio of 54.14, a PEG ratio of 4.82 and a beta of 2.82. The company has a 50-day moving average price of $102.66 and a 200-day moving average price of $101.52.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 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%. As a group, equities research analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SHOP. CIBC boosted their target price on Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Phillip Securities downgraded shares of Shopify from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, February 17th. Scotiabank lifted their price objective on shares of Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Wells Fargo & Company upped their price target on Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. raised their target price on Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $124.74.

About Shopify

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.