Shopify Inc. (NYSE:SHOP) Stock Position Trimmed by Louisbourg Investments Inc.

Louisbourg Investments Inc. lessened its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 13.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 110,219 shares of the software maker’s stock after selling 16,413 shares during the quarter. Shopify accounts for about 2.8% of Louisbourg Investments Inc.’s portfolio, making the stock its 3rd largest holding. Louisbourg Investments Inc.’s holdings in Shopify were worth $11,725,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its holdings in shares of Shopify by 150.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 475,564 shares of the software maker’s stock valued at $51,121,000 after buying an additional 285,737 shares during the period. Marks Group Wealth Management Inc lifted its holdings in shares of Shopify by 4.8% in the 4th quarter. Marks Group Wealth Management Inc now owns 8,110 shares of the software maker’s stock valued at $862,000 after buying an additional 373 shares during the period. Gladstone Institutional Advisory LLC lifted its holdings in shares of Shopify by 49.9% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 13,437 shares of the software maker’s stock valued at $1,429,000 after buying an additional 4,476 shares during the period. Certuity LLC lifted its holdings in shares of Shopify by 21.0% in the 4th quarter. Certuity LLC now owns 24,217 shares of the software maker’s stock valued at $2,576,000 after buying an additional 4,210 shares during the period. Finally, CAP Partners LLC lifted its holdings in shares of Shopify by 2.0% in the 4th quarter. CAP Partners LLC now owns 17,672 shares of the software maker’s stock valued at $1,879,000 after buying an additional 347 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Up 3.4 %

Shares of NYSE SHOP opened at $123.98 on Wednesday. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $125.95. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The stock has a market cap of $160.19 billion, a P/E ratio of 115.87, a PEG ratio of 2.49 and a beta of 2.47. The business’s fifty day simple moving average is $111.29 and its 200-day simple moving average is $91.82.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted 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 16.84% and a return on equity of 11.60%. As a group, equities analysts predict that Shopify Inc. will post 0.91 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SHOP shares. Piper Sandler upped their price target on Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $130.00 price target on shares of Shopify in a report on Wednesday, January 22nd. Robert W. Baird upped their price target on Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Truist Financial upped their price target on Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, November 13th. Finally, Benchmark raised Shopify from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and a consensus price target of $104.66.

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.