Schechter Investment Advisors LLC Has $2.21 Million Holdings in Shopify Inc. (NYSE:SHOP)

Schechter Investment Advisors LLC decreased its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 20,803 shares of the software maker’s stock after selling 661 shares during the period. Schechter Investment Advisors LLC’s holdings in Shopify were worth $2,212,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in shares of Shopify during the 3rd quarter worth about $33,000. New Wave Wealth Advisors LLC bought a new stake in Shopify during the fourth quarter worth about $39,000. Mather Group LLC. boosted its position in Shopify by 84.8% during 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 during the last quarter. Truvestments Capital LLC bought a new position in Shopify in the third quarter valued at approximately $45,000. Finally, Sierra Ocean LLC acquired a new position in shares of Shopify during the 4th quarter worth approximately $46,000. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Up 1.0 %

NYSE:SHOP opened at $111.97 on Monday. The company’s 50 day moving average is $112.88 and its two-hundred day moving average is $97.12. The company has a market cap of $144.98 billion, a PE ratio of 72.24, a P/E/G ratio of 4.82 and a beta of 2.47. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results 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 return on equity of 12.00% and a net margin of 22.74%. As a group, analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SHOP. Wedbush reissued an “outperform” rating and issued a $125.00 price objective on shares of Shopify in a report on Tuesday, February 11th. Moffett Nathanson boosted their price objective on shares of Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. The Goldman Sachs Group raised their target price on shares of Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Atb Cap Markets downgraded Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Robert W. Baird raised their price objective on Shopify from $126.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $126.31.

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.