Shopify Inc. (NYSE:SHOP) Shares Sold by MML Investors Services LLC

MML Investors Services LLC trimmed its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.4% in the fourth quarter, HoldingsChannel reports. The firm owned 159,246 shares of the software maker’s stock after selling 9,031 shares during the period. MML Investors Services LLC’s holdings in Shopify were worth $16,933,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Allianz SE acquired a new stake in Shopify during the 4th quarter valued at $27,000. PFG Private Wealth Management LLC lifted its position in shares of Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after acquiring an additional 256 shares in the last quarter. Mark Sheptoff Financial Planning LLC boosted its stake in shares of Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after acquiring an additional 100 shares during the last quarter. New Wave Wealth Advisors LLC purchased a new stake in Shopify during the 4th quarter worth about $39,000. Finally, Mather Group LLC. raised its stake in Shopify by 84.8% in 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 hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. ATB Capital lifted their price target on shares of Shopify from $145.00 to $170.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. Robert W. Baird lifted their target price on shares of Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group increased their price target on Shopify from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on Shopify from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, Evercore ISI increased their target price on Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $120.94.

Shopify Stock Down 2.4 %

SHOP stock opened at $81.64 on Tuesday. The stock’s 50 day moving average is $99.68 and its two-hundred day moving average is $101.78. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The company has a market capitalization of $105.71 billion, a PE ratio of 52.67, a P/E/G ratio of 4.82 and a beta of 2.82.

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

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.