Shopify Inc. (NYSE:SHOP) Shares Sold by Swiss National Bank

Swiss National Bank trimmed its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,519,800 shares of the software maker’s stock after selling 138,000 shares during the quarter. Swiss National Bank owned about 0.27% of Shopify worth $374,435,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. PFG Private Wealth Management LLC grew its stake in shares of Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after purchasing an additional 256 shares in the last quarter. New Wave Wealth Advisors LLC bought a new position in Shopify in the 4th quarter valued at about $39,000. Mather Group LLC. increased its stake in Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after buying an additional 184 shares during the period. Brooklyn Investment Group bought a new stake in shares of Shopify during the 3rd quarter worth about $33,000. Finally, Sierra Ocean LLC acquired a new stake in shares of Shopify in the 4th quarter worth approximately $46,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on SHOP. KeyCorp raised their price objective 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. 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 note on Wednesday, February 12th. JMP Securities reaffirmed a “market outperform” rating and set a $120.00 target price on shares of Shopify in a research note on Thursday, December 12th. Barclays boosted their price target on shares of Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Finally, Scotiabank raised their price objective on shares of Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Stock Performance

Shares of SHOP opened at $96.54 on Thursday. The firm has a market cap of $125.00 billion, a PE ratio of 62.29, a PEG ratio of 4.82 and a beta of 2.60. The firm’s 50 day moving average price is $111.51 and its 200 day moving average price is $98.34. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last released 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 net margin of 22.74% and a return on equity of 12.00%. On average, sell-side analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

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.