Shopify Inc. $SHOP Shares Sold by Hantz Financial Services Inc.

Hantz Financial Services Inc. reduced its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 21.3% during the fourth quarter, HoldingsChannel reports. The firm owned 202,293 shares of the software maker’s stock after selling 54,680 shares during the quarter. Hantz Financial Services Inc.’s holdings in Shopify were worth $32,563,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Knights of Columbus Asset Advisors LLC acquired a new stake in Shopify in the third quarter valued at $4,110,000. Principal Financial Group Inc. increased its stake in Shopify by 16.3% during the third quarter. Principal Financial Group Inc. now owns 450,895 shares of the software maker’s stock valued at $67,006,000 after purchasing an additional 63,300 shares during the last quarter. Triton Financial Group Inc bought a new stake in Shopify during the third quarter valued at $1,931,000. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in Shopify by 65.5% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 158,514 shares of the software maker’s stock valued at $23,557,000 after purchasing an additional 62,743 shares during the last quarter. Finally, M&T Bank Corp increased its stake in Shopify by 37.1% during the fourth quarter. M&T Bank Corp now owns 81,082 shares of the software maker’s stock valued at $13,051,000 after purchasing an additional 21,945 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SHOP. Barclays set a $126.00 target price on shares of Shopify and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Robert W. Baird set a $150.00 price target on shares of Shopify in a research report on Wednesday, May 6th. BMO Capital Markets lowered their price target on shares of Shopify from $160.00 to $145.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. Moffett Nathanson upgraded shares of Shopify from a “neutral” rating to a “buy” rating and set a $150.00 price target for the company in a research report on Monday, February 9th. Finally, Stifel Nicolaus set a $115.00 price target on shares of Shopify and gave the stock a “hold” rating in a research report on Wednesday, February 11th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $158.42.

Shopify Stock Performance

Shopify stock opened at $103.00 on Monday. The company has a 50-day simple moving average of $116.29 and a 200-day simple moving average of $135.60. The firm has a market capitalization of $133.66 billion, a P/E ratio of 101.98, a P/E/G ratio of 2.89 and a beta of 2.64. Shopify Inc. has a one year low of $94.00 and a one year high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $998.78. The firm had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.08 billion. Shopify had a net margin of 10.77% and a return on equity of 12.07%. As a group, sell-side analysts forecast that Shopify Inc. will post 1.36 earnings per share for the current year.

About Shopify

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.