Shopify Inc. (NYSE:SHOP) Shares Sold by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC reduced its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,349 shares of the software maker’s stock after selling 1,513 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Shopify were worth $5,566,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC purchased a new position in Shopify in the 4th quarter worth approximately $132,323,000. Swiss National Bank increased its holdings in shares of Shopify by 0.9% in the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock valued at $293,507,000 after purchasing an additional 33,300 shares during the last quarter. Watts Gwilliam & Co. LLC lifted its position in Shopify by 53.0% during the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock worth $1,431,000 after buying an additional 4,641 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in Shopify by 29.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock worth $27,409,000 after buying an additional 77,500 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its holdings in Shopify by 26.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock valued at $2,693,000 after buying an additional 7,027 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Down 0.1 %

NYSE SHOP opened at $115.45 on Tuesday. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The firm has a 50 day moving average of $112.84 and a two-hundred day moving average of $95.93. The stock has a market capitalization of $149.48 billion, a PE ratio of 74.48, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted 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 net margin of 22.74% and a return on equity of 12.00%. On average, equities research analysts expect that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SHOP has been the topic of several analyst reports. Wedbush reiterated an “outperform” rating and set a $125.00 price target on shares of Shopify in a report on Tuesday, February 11th. UBS Group lifted their target price on shares of Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group increased their price target on shares of Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. ATB Capital lifted their price target on shares of Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. Finally, Atb Cap Markets lowered Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. One investment 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and a consensus price target of $126.31.

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.