Shopify Inc. (NYSE:SHOP) Shares Sold by Kesler Norman & Wride LLC

Kesler Norman & Wride LLC lowered its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.1% in the fourth quarter, HoldingsChannel reports. The firm owned 9,430 shares of the software maker’s stock after selling 108 shares during the period. Kesler Norman & Wride LLC’s holdings in Shopify were worth $1,003,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new stake in Shopify in the 4th quarter valued at about $1,542,262,000. Arrowstreet Capital Limited Partnership boosted its stake in Shopify by 79.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock worth $1,752,834,000 after buying an additional 7,316,862 shares during the period. Alliancebernstein L.P. increased its position in shares of Shopify by 631.3% during the fourth quarter. Alliancebernstein L.P. now owns 4,459,580 shares of the software maker’s stock valued at $474,187,000 after acquiring an additional 3,849,796 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Shopify by 30.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,095,382 shares of the software maker’s stock valued at $754,201,000 after acquiring an additional 1,647,374 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Shopify by 30.2% in the 4th quarter. Geode Capital Management LLC now owns 7,015,582 shares of the software maker’s stock worth $748,799,000 after acquiring an additional 1,627,776 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wedbush reissued an “outperform” rating and issued a $125.00 target price on shares of Shopify in a research report on Tuesday, February 11th. 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. Benchmark raised shares of Shopify from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a research report on Monday, February 10th. ATB Capital upped their price objective on Shopify from $145.00 to $170.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. Finally, Robert W. Baird increased their price target on Shopify from $126.00 to $135.00 and gave the company an “outperform” 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 issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $126.31.

Shopify Price Performance

Shares of SHOP opened at $97.64 on Wednesday. The stock has a market capitalization of $126.43 billion, a PE ratio of 62.99, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. The business’s fifty day moving average price is $109.88 and its 200 day moving average price is $101.33. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing the consensus estimate 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, research analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal 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.