Shopify Inc. (NYSE:SHOP) Shares Sold by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC reduced its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 52,349 shares of the software maker’s stock after selling 1,513 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Shopify were worth $5,566,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SHOP. Brooklyn Investment Group acquired a new stake in shares of Shopify during the third quarter worth about $33,000. Rosenberg Matthew Hamilton grew its stake in Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after buying an additional 133 shares during the last quarter. New Wave Wealth Advisors LLC acquired a new position in Shopify during the fourth quarter worth approximately $39,000. Mather Group LLC. lifted its stake in Shopify by 84.8% in the fourth 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 last quarter. Finally, Truvestments Capital LLC acquired a new stake in shares of Shopify in the third quarter valued at approximately $45,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Down 0.1 %

Shares of SHOP stock opened at $115.45 on Tuesday. The stock has a market cap of $149.48 billion, a P/E ratio of 74.48, a P/E/G ratio of 4.82 and a beta of 2.47. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The business has a fifty day simple moving average of $112.84 and a 200-day simple moving average of $95.93.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing the consensus estimate 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 year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Mizuho lifted their target price on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Shopify from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. increased their target price on shares of Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. TD Securities boosted their price target on Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. Finally, Piper Sandler increased their price objective on Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.