Pinnacle Wealth Planning Services Inc. Has $241,000 Holdings in Shopify Inc. (NYSE:SHOP)

Pinnacle Wealth Planning Services Inc. decreased its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 36.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,270 shares of the software maker’s stock after selling 1,319 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Shopify were worth $241,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Jennison Associates LLC acquired a new position in Shopify during the fourth quarter worth $132,323,000. Swiss National Bank boosted its holdings in Shopify by 0.9% during the third 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 holdings in Shopify by 53.0% during the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock worth $1,431,000 after purchasing an additional 4,641 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in Shopify by 29.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock worth $27,409,000 after purchasing an additional 77,500 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in Shopify by 26.4% during the third quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock worth $2,693,000 after purchasing an additional 7,027 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on SHOP. DA Davidson increased their target price on shares of Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Moffett Nathanson increased their price target on shares of Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. TD Securities increased their price target on shares of Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $120.00 price target on shares of Shopify in a research note on Wednesday, February 12th. Finally, Canaccord Genuity Group increased 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. One investment 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Down 2.4 %

Shares of Shopify stock opened at $100.00 on Friday. The company has a market capitalization of $129.48 billion, a price-to-earnings ratio of 64.52, a PEG ratio of 4.82 and a beta of 2.47. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The firm’s 50-day moving average price is $112.26 and its two-hundred day moving average price is $97.80.

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 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 expect that Shopify Inc. will post 1.12 earnings per share 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.