Pine Valley Investments Ltd Liability Co Cuts Position in Shopify Inc. (NYSE:SHOP)

Pine Valley Investments Ltd Liability Co reduced its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 34.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,739 shares of the software maker’s stock after selling 1,983 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Shopify were worth $398,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of SHOP. Brooklyn Investment Group acquired a new position in Shopify during the 3rd quarter worth about $33,000. Rosenberg Matthew Hamilton increased its stake in Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares during the period. New Wave Wealth Advisors LLC acquired a new stake in shares of Shopify during the fourth quarter worth about $39,000. Mather Group LLC. lifted its position in shares of Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after purchasing an additional 184 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new position in shares of Shopify in the third quarter valued at approximately $45,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Price Performance

SHOP opened at $113.46 on Thursday. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The stock has a market capitalization of $146.91 billion, a P/E ratio of 73.20, a P/E/G ratio of 4.82 and a beta of 2.47. The business has a 50 day simple moving average of $112.74 and a 200-day simple moving average of $96.35.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data 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 return on equity of 12.00% and a net margin of 22.74%. Research analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Oppenheimer upped their price objective on Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Phillip Securities lowered Shopify from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, February 17th. Mizuho upped their price target on Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Finally, Morgan Stanley increased their price target on Shopify from $126.00 to $144.00 and gave the company an “overweight” 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 issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $126.31.

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.