Level Four Advisory Services LLC Sells 239 Shares of Shopify Inc. (NYSE:SHOP)

Level Four Advisory Services LLC reduced its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 33,554 shares of the software maker’s stock after selling 239 shares during the quarter. Level Four Advisory Services LLC’s holdings in Shopify were worth $3,568,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Shopify by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker’s stock valued at $5,010,721,000 after acquiring an additional 781,162 shares in the last quarter. Norges Bank bought a new position in Shopify in the 4th quarter valued at $1,542,262,000. National Bank of Canada FI increased its position in shares of Shopify by 28.0% during the 3rd quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after purchasing an additional 1,621,981 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Shopify by 30.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,095,382 shares of the software maker’s stock worth $754,201,000 after purchasing an additional 1,647,374 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Shopify by 9.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker’s stock worth $432,573,000 after buying an additional 471,280 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Performance

NYSE:SHOP opened at $96.51 on Friday. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The firm has a market cap of $124.96 billion, a PE ratio of 62.27, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. The business has a 50 day moving average price of $110.21 and a 200-day moving average price of $100.55.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. Research analysts predict that Shopify Inc. will post 1.12 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on SHOP shares. JMP Securities reaffirmed a “market outperform” rating and issued a $120.00 price objective on shares of Shopify in a research report on Thursday, December 12th. CIBC raised their target price on Shopify from $135.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. New Street Research began coverage on Shopify in a research note on Friday, January 10th. They issued a “neutral” rating and a $115.00 price objective on the stock. Piper Sandler increased their target price on shares of Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Finally, DA Davidson upped their price target on shares of Shopify from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.