Blue Barn Wealth LLC Cuts Stock Holdings in Shopify Inc. (NYSE:SHOP)

Blue Barn Wealth LLC lowered its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,406 shares of the software maker’s stock after selling 401 shares during the period. Blue Barn Wealth LLC’s holdings in Shopify were worth $787,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in SHOP. PFG Private Wealth Management LLC grew its stake in Shopify by 3,657.1% in the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after purchasing an additional 256 shares during the period. Brooklyn Investment Group purchased a new position in shares of Shopify in the 3rd quarter worth about $33,000. New Wave Wealth Advisors LLC bought a new position in Shopify during the fourth quarter valued at about $39,000. Mather Group LLC. increased its holdings in Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after buying an additional 184 shares during the last quarter. Finally, Truvestments Capital LLC bought a new stake in Shopify in the third quarter worth about $45,000. 69.27% of the stock is owned by institutional investors.

Shopify Trading Up 4.6 %

Shares of NYSE:SHOP opened at $106.40 on Thursday. The stock has a market capitalization of $137.77 billion, a P/E ratio of 68.65, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47. The stock’s 50-day moving average price is $112.57 and its 200-day moving average price is $97.59. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SHOP. JPMorgan Chase & Co. raised their price target on shares of Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Oppenheimer raised their target price on Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. CIBC upped their price target on Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Finally, Robert W. Baird boosted their price objective on Shopify from $126.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen 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, Shopify currently has an average rating of “Moderate Buy” and a consensus 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.