Mirova US LLC Decreases Stock Holdings in Shopify Inc. (NYSE:SHOP)

Mirova US LLC lowered its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,971,701 shares of the software maker’s stock after selling 57,162 shares during the period. Shopify comprises 2.5% of Mirova US LLC’s portfolio, making the stock its 18th largest holding. Mirova US LLC owned 0.15% of Shopify worth $209,651,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. PFG Private Wealth Management LLC lifted its holdings in shares of Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after purchasing an additional 256 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new stake in shares of Shopify in the fourth quarter valued at about $39,000. Mather Group LLC. lifted its holdings in shares of Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after purchasing an additional 184 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Shopify in the third quarter valued at about $33,000. Finally, Sierra Ocean LLC purchased a new stake in shares of Shopify in the fourth quarter valued at about $46,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Phillip Securities downgraded shares of Shopify from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, February 17th. JMP Securities reissued a “market outperform” rating and issued a $120.00 price objective on shares of Shopify in a research report on Thursday, December 12th. Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and boosted their price objective for the company from $110.00 to $140.00 in a research report on Friday, December 6th. Jefferies Financial Group boosted their price objective on shares of Shopify from $110.00 to $130.00 and gave the company a “hold” rating in a research report on Tuesday, February 18th. Finally, Wedbush reissued an “outperform” rating and issued a $125.00 price objective on shares of Shopify in a research report on Tuesday, February 11th. One research 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Price Performance

NYSE SHOP opened at $96.78 on Tuesday. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The company has a market capitalization of $125.31 billion, a price-to-earnings ratio of 62.44, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. The company’s fifty day moving average price is $110.53 and its two-hundred day moving average price is $98.94.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 EPS 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 anticipate that Shopify Inc. will post 1.12 EPS for the current 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.