Generali Investments Towarzystwo Funduszy Inwestycyjnych Decreases Holdings in Shopify Inc. (NYSE:SHOP)

Generali Investments Towarzystwo Funduszy Inwestycyjnych cut its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 31.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,050 shares of the software maker’s stock after selling 7,950 shares during the period. Generali Investments Towarzystwo Funduszy Inwestycyjnych’s holdings in Shopify were worth $1,815,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Howland Capital Management LLC raised its holdings in Shopify by 2.0% in the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock worth $526,000 after purchasing an additional 99 shares during the period. Trust Co. of Vermont raised its holdings in Shopify by 9.9% in the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock worth $118,000 after purchasing an additional 100 shares during the period. First United Bank & Trust raised its holdings in Shopify by 2.2% in the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock worth $488,000 after purchasing an additional 100 shares during the period. Sunbelt Securities Inc. raised its holdings in Shopify by 0.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock worth $1,162,000 after purchasing an additional 105 shares during the period. Finally, Redhawk Wealth Advisors Inc. raised its holdings in Shopify by 3.3% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock worth $357,000 after purchasing an additional 107 shares during the period. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Price Performance

Shares of NYSE SHOP opened at $110.72 on Friday. The company has a market cap of $143.36 billion, a P/E ratio of 71.43, a PEG ratio of 4.82 and a beta of 2.47. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The firm has a 50-day simple moving average of $112.82 and a two-hundred day simple moving average of $96.45.

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 return on equity of 12.00% and a net margin of 22.74%. As a group, equities research analysts expect that Shopify Inc. will post 1.12 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on SHOP. Morgan Stanley raised their target price on Shopify from $126.00 to $144.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Oppenheimer increased their price target on Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. KeyCorp increased their price target on Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. UBS Group raised their price objective on Shopify from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Finally, Wedbush restated an “outperform” rating and set a $125.00 price objective on shares of Shopify in a research report on Tuesday, February 11th. One equities 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, Shopify has an average rating of “Moderate Buy” and an average target price of $126.31.

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.