Shopify Inc. (NYSE:SHOP) Shares Sold by Napean Trading & Investment Co Singapore PTE Ltd

Napean Trading & Investment Co Singapore PTE Ltd reduced its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 28.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 101,809 shares of the software maker’s stock after selling 40,496 shares during the quarter. Shopify makes up approximately 2.7% of Napean Trading & Investment Co Singapore PTE Ltd’s investment portfolio, making the stock its 15th largest position. Napean Trading & Investment Co Singapore PTE Ltd’s holdings in Shopify were worth $10,825,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. PFG Private Wealth Management LLC lifted its stake in shares of Shopify by 3,657.1% in the 4th 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 during the last quarter. Brooklyn Investment Group purchased a new stake in Shopify in the 3rd quarter valued at about $33,000. New Wave Wealth Advisors LLC purchased a new stake in shares of Shopify in the 4th quarter valued at approximately $39,000. Mather Group LLC. increased its holdings in Shopify by 84.8% in the 4th 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. Finally, Truvestments Capital LLC acquired a new position in Shopify during the third quarter worth $45,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Trading Up 2.4 %

Shares of NYSE SHOP opened at $104.29 on Monday. The company has a market capitalization of $135.04 billion, a price-to-earnings ratio of 67.29, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The business has a 50 day simple moving average of $110.04 and a 200-day simple moving average of $99.73.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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%. As a group, equities analysts predict that Shopify Inc. will post 1.12 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have commented on SHOP. Citigroup raised their price target on shares of Shopify from $143.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Loop Capital upgraded shares of Shopify from a “hold” rating to a “buy” rating and boosted their target price for the stock from $110.00 to $140.00 in a research note on Friday, December 6th. Scotiabank raised their price target on Shopify from $115.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 12th. Moffett Nathanson raised their target price on shares of Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Finally, Jefferies Financial Group upped their price target 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. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and an average price target of $126.31.

Shopify Company 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.