Bogart Wealth LLC Sells 2,040 Shares of Shopify Inc. (NYSE:SHOP)

Bogart Wealth LLC reduced its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 80,119 shares of the software maker’s stock after selling 2,040 shares during the quarter. Bogart Wealth LLC’s holdings in Shopify were worth $8,519,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SFE Investment Counsel bought a new stake in shares of Shopify during the 4th quarter worth $229,000. McClarren Financial Advisors Inc. increased its holdings in Shopify by 225.0% during the fourth quarter. McClarren Financial Advisors Inc. now owns 520 shares of the software maker’s stock worth $55,000 after buying an additional 360 shares during the last quarter. Naples Global Advisors LLC raised its position in Shopify by 22.2% in the fourth quarter. Naples Global Advisors LLC now owns 4,709 shares of the software maker’s stock worth $501,000 after acquiring an additional 855 shares during the period. Van ECK Associates Corp raised its position in Shopify by 18.2% in the fourth quarter. Van ECK Associates Corp now owns 49,444 shares of the software maker’s stock worth $5,258,000 after acquiring an additional 7,615 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in Shopify by 150.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 475,564 shares of the software maker’s stock valued at $51,121,000 after acquiring an additional 285,737 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

Shares of Shopify stock opened at $127.65 on Friday. The stock has a market capitalization of $164.93 billion, a price-to-earnings ratio of 119.30, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47. The company has a fifty day moving average of $111.43 and a 200-day moving average of $92.02. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $128.00. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results 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 16.84% and a return on equity of 11.60%. Equities research analysts expect that Shopify Inc. will post 0.91 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on SHOP. Benchmark upgraded shares of Shopify from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a research note on Monday. Citigroup boosted their target price on Shopify from $143.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday. CIBC increased their price target on Shopify from $135.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday. DA Davidson lifted their price objective on Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Morgan Stanley upped their price objective on shares of Shopify from $126.00 to $144.00 and gave the company an “overweight” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $125.14.

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.