Alerus Financial NA Decreases Stock Position in Shopify Inc. (NYSE:SHOP)

Alerus Financial NA reduced its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 7.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,137 shares of the software maker’s stock after selling 2,318 shares during the quarter. Alerus Financial NA’s holdings in Shopify were worth $3,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. PFG Private Wealth Management LLC boosted its holdings in shares of Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after acquiring an additional 256 shares during the last quarter. Mark Sheptoff Financial Planning LLC grew its position in Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares during the period. Brooklyn Investment Group purchased a new stake in Shopify during the 3rd quarter valued at $33,000. New Wave Wealth Advisors LLC purchased a new stake in Shopify during the 4th quarter valued at $39,000. Finally, Mather Group LLC. grew its stake in shares of Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after purchasing an additional 184 shares during the period. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Trading Down 1.6 %

Shares of SHOP opened at $102.64 on Friday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The firm has a market capitalization of $132.90 billion, a P/E ratio of 66.22, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. The stock’s fifty day simple moving average is $110.35 and its 200 day simple moving average is $100.35.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results 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%. Sell-side analysts predict that Shopify Inc. will post 1.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SHOP. Scotiabank upped their price target on shares of Shopify from $115.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. JMP Securities reiterated a “market outperform” rating and set a $120.00 price target on shares of Shopify in a report on Thursday, December 12th. TD Securities boosted their price target on Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. ATB Capital increased their price objective on shares of Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Finally, The Goldman Sachs Group lifted their price objective on shares of Shopify from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.