Trillium Asset Management LLC Lowers Stock Position in Shopify Inc. (NYSE:SHOP)

Trillium Asset Management LLC lessened its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 11.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 222,231 shares of the software maker’s stock after selling 27,885 shares during the quarter. Trillium Asset Management LLC’s holdings in Shopify were worth $23,630,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. PFG Private Wealth Management LLC lifted its position in shares of Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after purchasing an additional 256 shares in the last quarter. 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. Brooklyn Investment Group acquired a new stake in shares of Shopify during the third quarter worth about $33,000. Finally, Sierra Ocean LLC acquired a new stake in shares of Shopify during the fourth quarter worth about $46,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on SHOP. DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Citigroup raised their target price on shares of Shopify from $143.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. TD Securities raised their target price on shares of Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. Scotiabank raised their target price on shares of Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $120.00 target price on shares of Shopify in a report on Wednesday, February 12th. One investment 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Price Performance

NYSE:SHOP opened at $93.90 on Wednesday. The firm’s fifty day moving average price is $110.27 and its 200 day moving average price is $99.08. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The firm has a market cap of $121.58 billion, a price-to-earnings ratio of 60.58, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60.

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%. As a group, analysts expect that Shopify Inc. will post 1.12 earnings per share for the current fiscal 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.