Louisbourg Investments Inc. Decreases Position in Shopify Inc. (NYSE:SHOP)

Louisbourg Investments Inc. lowered its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 13.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,219 shares of the software maker’s stock after selling 16,413 shares during the quarter. Shopify comprises 2.8% of Louisbourg Investments Inc.’s portfolio, making the stock its 3rd biggest holding. Louisbourg Investments Inc.’s holdings in Shopify were worth $11,725,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SHOP. New Wave Wealth Advisors LLC purchased a new position in Shopify during the 4th quarter valued at approximately $39,000. Mather Group LLC. grew its holdings in Shopify by 84.8% during 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 in the last quarter. Brooklyn Investment Group purchased a new position in Shopify during the 3rd quarter valued at approximately $33,000. Rosenberg Matthew Hamilton grew its holdings in Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after buying an additional 133 shares in the last quarter. Finally, Synergy Asset Management LLC purchased a new position in Shopify during the 4th quarter valued at approximately $55,000. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Up 3.4 %

SHOP opened at $123.98 on Wednesday. The firm has a market cap of $160.19 billion, a price-to-earnings ratio of 115.87, a PEG ratio of 2.49 and a beta of 2.47. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $125.95. The stock has a fifty day moving average price of $111.29 and a 200-day moving average price of $91.82.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results 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 11.60% and a net margin of 16.84%. As a group, equities research analysts anticipate that Shopify Inc. will post 0.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wells Fargo & Company raised their price target on Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Citigroup raised their price target on Shopify from $143.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday. Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and lifted their target price for the stock from $110.00 to $140.00 in a report on Friday, December 6th. DZ Bank cut Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Finally, Benchmark upgraded Shopify from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.66.

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.