Synergy Financial Group LTD Trims Stock Position in Shopify Inc. (NYSE:SHOP)

Synergy Financial Group LTD decreased its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,292 shares of the software maker’s stock after selling 3,240 shares during the quarter. Shopify accounts for approximately 5.4% of Synergy Financial Group LTD’s holdings, making the stock its 4th largest position. Synergy Financial Group LTD’s holdings in Shopify were worth $6,517,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in SHOP. Jennison Associates LLC acquired a new position in Shopify in the fourth quarter valued at approximately $132,323,000. Swiss National Bank lifted its holdings in shares of Shopify by 0.9% in the 3rd quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock worth $293,507,000 after purchasing an additional 33,300 shares during the last quarter. Watts Gwilliam & Co. LLC boosted its position in Shopify by 53.0% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after purchasing an additional 4,641 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in Shopify by 29.3% during the 3rd 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 purchasing an additional 77,500 shares during the period. Finally, Oppenheimer & Co. Inc. grew its stake in Shopify by 26.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock worth $2,693,000 after buying an additional 7,027 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Performance

Shares of NYSE:SHOP opened at $115.45 on Tuesday. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The company has a market cap of $149.48 billion, a PE ratio of 74.48, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47. The firm has a 50 day simple moving average of $112.84 and a 200 day simple moving average of $95.93.

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

Wall Street Analysts Forecast Growth

SHOP has been the subject of several analyst reports. New Street Research began coverage on shares of Shopify in a report on Friday, January 10th. They set a “neutral” rating and a $115.00 price target for the company. KeyCorp boosted their target price on shares of Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group raised their price target on shares of Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft boosted their price objective on Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Jefferies Financial Group increased their price objective on Shopify from $110.00 to $130.00 and gave the stock a “hold” rating in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to 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.