Shopify Inc. (NYSE:SHOP) Shares Sold by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC reduced its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 29.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,171 shares of the software maker’s stock after selling 906 shares during the period. EverSource Wealth Advisors LLC’s holdings in Shopify were worth $231,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. PFG Private Wealth Management LLC boosted its position in Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after acquiring an additional 256 shares during the period. Brooklyn Investment Group acquired a new stake in Shopify during the 3rd quarter worth about $33,000. New Wave Wealth Advisors LLC acquired a new stake in Shopify during the 4th quarter worth about $39,000. Mather Group LLC. boosted its position in Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after acquiring an additional 184 shares during the period. Finally, Truvestments Capital LLC acquired a new stake in Shopify during the 3rd quarter worth about $45,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on SHOP. New Street Research began coverage on Shopify in a research report on Friday, January 10th. They set a “neutral” rating and a $115.00 price objective for the company. Canaccord Genuity Group lifted their price target on Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Barclays lifted their price target on Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. lifted their price target on Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Wedbush reiterated an “outperform” rating and set a $125.00 price target on shares of Shopify in a report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Stock Up 4.7 %

Shopify stock opened at $94.88 on Monday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The company has a 50 day moving average of $110.88 and a 200-day moving average of $98.78. The stock has a market capitalization of $122.86 billion, a PE ratio of 61.22, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results 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 return on equity of 12.00% and a net margin of 22.74%. Equities analysts anticipate that Shopify Inc. will post 1.12 EPS for the current fiscal year.

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.