Shopify Inc. (NYSE:SHOP) Shares Sold by Zions Bancorporation N.A.

Zions Bancorporation N.A. cut its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 33.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,684 shares of the software maker’s stock after selling 853 shares during the quarter. Zions Bancorporation N.A.’s holdings in Shopify were worth $179,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Jennison Associates LLC purchased a new position in shares of Shopify during the 4th quarter valued at approximately $132,323,000. Watts Gwilliam & Co. LLC grew its position in Shopify by 53.0% during the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after buying an additional 4,641 shares during the period. Teachers Retirement System of The State of Kentucky increased its holdings in Shopify by 29.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock valued at $27,409,000 after buying an additional 77,500 shares in the last quarter. Wahed Invest LLC raised its position in shares of Shopify by 18.4% in the third quarter. Wahed Invest LLC now owns 57,624 shares of the software maker’s stock worth $4,618,000 after acquiring an additional 8,960 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Shopify during the 3rd quarter worth about $33,676,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of NYSE SHOP opened at $104.32 on Thursday. The stock’s 50-day simple moving average is $110.36 and its 200-day simple moving average is $100.34. The firm has a market capitalization of $135.07 billion, a PE ratio of 67.30, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. 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 released its quarterly earnings data 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%. On average, sell-side analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SHOP shares. DA Davidson lifted their price target on Shopify from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. ATB Capital boosted their price objective on Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group upped their target price on Shopify from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Piper Sandler lifted their price target on shares of Shopify from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Finally, New Street Research assumed coverage on shares of Shopify in a research report on Friday, January 10th. They set a “neutral” rating and a $115.00 price objective for the company. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $126.31.

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.