APG Asset Management N.V. Reduces Position in Shopify Inc. (NYSE:SHOP)

APG Asset Management N.V. trimmed its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 16.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,140 shares of the software maker’s stock after selling 12,795 shares during the quarter. APG Asset Management N.V.’s holdings in Shopify were worth $6,692,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tidemark LLC grew 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 buying an additional 90 shares during the last quarter. Howland Capital Management LLC lifted its stake in Shopify by 2.0% in the fourth quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock worth $526,000 after acquiring an additional 99 shares during the period. Trust Co. of Vermont boosted its holdings in Shopify by 9.9% in the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after acquiring an additional 100 shares in the last quarter. First United Bank & Trust increased its position in Shopify by 2.2% during the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock valued at $488,000 after purchasing an additional 100 shares during the period. Finally, Mark Sheptoff Financial Planning LLC raised its holdings in Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SHOP has been the topic of several research analyst reports. Robert W. Baird boosted their price target on shares of Shopify from $126.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. upped their target price on Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Royal Bank of Canada set a $145.00 target price on Shopify and gave the company an “outperform” rating in a research note on Friday, March 21st. Truist Financial upped their price target on Shopify from $110.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. Finally, New Street Research started 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. One investment 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Performance

Shares of Shopify stock opened at $83.71 on Friday. The stock has a market cap of $108.39 billion, a P/E ratio of 54.01, a P/E/G ratio of 4.82 and a beta of 2.82. The stock’s fifty day moving average is $104.13 and its 200 day moving average is $101.48. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted 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 net margin of 22.74% and a return on equity of 12.00%. Analysts predict 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.