M&T Bank Corp Sells 235 Shares of Shopify Inc. (NYSE:SHOP)

M&T Bank Corp cut its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 41,816 shares of the software maker’s stock after selling 235 shares during the period. M&T Bank Corp’s holdings in Shopify were worth $4,447,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Atria Investments Inc raised its stake in shares of Shopify by 6.6% during the 4th quarter. Atria Investments Inc now owns 168,825 shares of the software maker’s stock worth $17,951,000 after purchasing an additional 10,442 shares during the period. Assetmark Inc. raised its stake in shares of Shopify by 18.8% during the 4th quarter. Assetmark Inc. now owns 84,510 shares of the software maker’s stock worth $8,986,000 after purchasing an additional 13,390 shares during the period. J.Safra Asset Management Corp bought a new stake in shares of Shopify during the 4th quarter worth $147,000. Keybank National Association OH raised its stake in shares of Shopify by 6.6% during the 4th quarter. Keybank National Association OH now owns 22,963 shares of the software maker’s stock worth $2,442,000 after purchasing an additional 1,419 shares during the period. Finally, AMJ Financial Wealth Management bought a new stake in shares of Shopify during the 4th quarter worth $4,089,000. 69.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SHOP has been the topic of a number of recent analyst reports. New Street Research initiated coverage on Shopify in a research note on Friday, January 10th. They set a “neutral” rating and a $115.00 target price on the stock. TD Securities lifted their target price on Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. DA Davidson lifted their target price on Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Wedbush restated an “outperform” rating and issued a $125.00 price objective on shares of Shopify in a research note on Tuesday, February 11th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Shopify from $125.00 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 issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Shopify currently has an average rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Trading Down 2.4 %

Shares of NYSE SHOP opened at $100.00 on Friday. The firm has a market capitalization of $129.48 billion, a price-to-earnings ratio of 64.52, a PEG ratio of 4.82 and a beta of 2.47. The business has a 50-day moving average of $112.26 and a 200-day moving average of $97.80. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38.

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

About Shopify

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.