Shopify Inc. (NYSE:SHOP) Shares Sold by Soma Equity Partners LP

Soma Equity Partners LP reduced its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 11.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,018,547 shares of the software maker’s stock after selling 126,263 shares during the quarter. Shopify comprises about 6.0% of Soma Equity Partners LP’s investment portfolio, making the stock its 8th biggest position. Soma Equity Partners LP owned 0.08% of Shopify worth $108,302,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LRI Investments LLC boosted its position in Shopify by 9.8% during the 4th quarter. LRI Investments LLC now owns 889 shares of the software maker’s stock worth $94,000 after purchasing an additional 79 shares during the period. Tidemark LLC raised its holdings in shares of Shopify by 3.6% during the 4th quarter. Tidemark LLC now owns 2,592 shares of the software maker’s stock valued at $276,000 after buying an additional 90 shares during the period. Howland Capital Management LLC grew its position in Shopify by 2.0% in the fourth quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock valued at $526,000 after acquiring an additional 99 shares in the last quarter. Trust Co. of Vermont raised its stake in shares of Shopify by 9.9% during the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after purchasing an additional 100 shares during the period. Finally, First United Bank & Trust boosted its stake in shares of Shopify by 2.2% in the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock valued at $488,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SHOP shares. Royal Bank of Canada dropped their target price on Shopify from $145.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. The Goldman Sachs Group decreased their price target on shares of Shopify from $150.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Capital One Financial upgraded shares of Shopify from an “equal weight” rating to an “overweight” rating in a research note on Thursday, May 8th. DA Davidson reduced their price objective on shares of Shopify from $150.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, Mizuho dropped their target price on shares of Shopify from $110.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and an average price target of $115.37.

Shopify Stock Down 1.1%

SHOP stock opened at $110.21 on Friday. The company has a 50-day simple moving average of $93.94 and a 200 day simple moving average of $103.52. The company has a market capitalization of $142.70 billion, a P/E ratio of 71.10, a PEG ratio of 4.82 and a beta of 2.66. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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%. Equities analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

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.