Shopify Inc. (NYSE:SHOP) is Strategy Capital LLC’s 2nd Largest Position

Strategy Capital LLC reduced its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,835,191 shares of the software maker’s stock after selling 66,680 shares during the period. Shopify accounts for about 15.9% of Strategy Capital LLC’s investment portfolio, making the stock its 2nd biggest position. Strategy Capital LLC owned about 0.14% of Shopify worth $195,136,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allianz SE bought a new stake in shares of Shopify in the 4th quarter worth about $27,000. PFG Private Wealth Management LLC raised its position in Shopify by 3,657.1% during the fourth 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. Mark Sheptoff Financial Planning LLC lifted its stake in shares of Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. New Wave Wealth Advisors LLC purchased a new position in shares of Shopify in the 4th quarter worth approximately $39,000. Finally, Mather Group LLC. increased its position in shares of Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after purchasing an additional 184 shares during the last quarter. 69.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on SHOP. JPMorgan Chase & Co. lifted their price objective 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. Wells Fargo & Company lifted their price target on shares of Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group increased their price objective on shares of Shopify from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Evercore ISI boosted their target price on Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, Citigroup increased their price target on Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a 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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Shopify has an average rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Price Performance

NYSE:SHOP traded down $5.44 during midday trading on Thursday, hitting $85.96. The company’s stock had a trading volume of 4,122,732 shares, compared to its average volume of 9,153,918. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The firm has a market cap of $111.30 billion, a P/E ratio of 55.46, a P/E/G ratio of 4.82 and a beta of 2.82. The firm’s 50 day moving average is $105.44 and its 200-day moving average is $101.42.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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%. As a group, analysts forecast that Shopify Inc. will post 1.12 EPS for the current year.

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.