Nicola Wealth Management LTD. Sells 55,429 Shares of Shopify Inc. (NYSE:SHOP)

Nicola Wealth Management LTD. lessened its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 18.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 240,571 shares of the software maker’s stock after selling 55,429 shares during the quarter. Shopify comprises about 2.7% of Nicola Wealth Management LTD.’s investment portfolio, making the stock its 4th largest position. Nicola Wealth Management LTD.’s holdings in Shopify were worth $25,580,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Brooklyn Investment Group acquired a new position in shares of Shopify during the third quarter valued at $33,000. New Wave Wealth Advisors LLC bought a new stake in Shopify in the fourth quarter valued at about $39,000. Mather Group LLC. lifted its stake in Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after buying an additional 184 shares during the period. Truvestments Capital LLC acquired a new position in Shopify in the third quarter valued at about $45,000. Finally, Sierra Ocean LLC acquired a new position in shares of Shopify during the 4th quarter worth about $46,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

Shares of SHOP opened at $106.25 on Tuesday. The firm has a market capitalization of $137.57 billion, a PE ratio of 68.55, a PEG ratio of 4.82 and a beta of 2.47. The company’s 50-day moving average is $112.82 and its 200-day moving average is $97.34. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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%. Analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SHOP shares. Benchmark upgraded 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. DA Davidson boosted their price objective on shares of Shopify from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Mizuho boosted their price objective on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Wedbush restated an “outperform” rating and set a $125.00 price objective on shares of Shopify in a report on Tuesday, February 11th. Finally, Piper Sandler boosted their price objective on shares of Shopify from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. One 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and an average price target of $126.31.

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.