Harbour Investments Inc. Sells 130 Shares of Shopify Inc. (NYSE:SHOP)

Harbour Investments Inc. cut its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 16,958 shares of the software maker’s stock after selling 130 shares during the period. Harbour Investments Inc.’s holdings in Shopify were worth $1,803,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. raised its position in shares of Shopify by 31.1% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 47,356 shares of the software maker’s stock worth $5,035,000 after acquiring an additional 11,232 shares in the last quarter. Tidemark LLC raised its position in shares of Shopify by 3.6% in the 4th quarter. Tidemark LLC now owns 2,592 shares of the software maker’s stock worth $276,000 after acquiring an additional 90 shares in the last quarter. Choate Investment Advisors bought a new position in shares of Shopify in the 4th quarter worth about $593,000. Natixis Advisors LLC raised its position in shares of Shopify by 13.1% in the 4th quarter. Natixis Advisors LLC now owns 1,563,407 shares of the software maker’s stock worth $166,237,000 after acquiring an additional 180,518 shares in the last quarter. Finally, Frank Rimerman Advisors LLC bought a new stake in Shopify in the 4th quarter valued at about $259,000. 69.27% of the stock is owned by institutional investors.

Shopify Trading Up 2.0 %

NYSE:SHOP opened at $96.78 on Tuesday. The stock has a market capitalization of $125.31 billion, a PE ratio of 62.44, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. The firm’s 50 day moving average is $110.53 and its 200 day moving average is $98.94. 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 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. Research analysts predict that Shopify Inc. will post 1.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Benchmark raised Shopify from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research report on Monday, February 10th. The Goldman Sachs Group boosted their target price on Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. TD Securities boosted their target price on Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. Wedbush reaffirmed an “outperform” rating and issued a $125.00 target price on shares of Shopify in a research report on Tuesday, February 11th. Finally, Moffett Nathanson boosted their target price on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Company 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.