Generali Investments Towarzystwo Funduszy Inwestycyjnych Sells 7,950 Shares of Shopify Inc. (NYSE:SHOP)

Generali Investments Towarzystwo Funduszy Inwestycyjnych lessened its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 31.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 17,050 shares of the software maker’s stock after selling 7,950 shares during the period. Generali Investments Towarzystwo Funduszy Inwestycyjnych’s holdings in Shopify were worth $1,815,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SHOP. Brooklyn Investment Group bought a new stake in shares of Shopify during the third quarter valued at approximately $33,000. Rosenberg Matthew Hamilton increased its holdings in Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after buying an additional 133 shares during the period. New Wave Wealth Advisors LLC purchased a new position in Shopify during the fourth quarter valued at approximately $39,000. Mather Group LLC. increased its holdings in Shopify by 84.8% during 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 period. Finally, Truvestments Capital LLC purchased a new position in Shopify during the third quarter valued at approximately $45,000. Institutional investors own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

SHOP has been the topic of several research reports. Wedbush reissued an “outperform” rating and set a $125.00 price objective on shares of Shopify in a report on Tuesday, February 11th. Scotiabank lifted their price objective on shares of Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. Piper Sandler lifted their price objective on shares of Shopify from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. JMP Securities reissued a “market outperform” rating and set a $120.00 price objective on shares of Shopify in a report on Thursday, December 12th. Finally, Evercore ISI lifted their price target on shares of Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Price Performance

NYSE SHOP opened at $110.72 on Friday. The company has a market capitalization of $143.36 billion, a PE ratio of 71.43, a P/E/G ratio of 4.82 and a beta of 2.47. The company has a fifty day moving average of $112.82 and a 200 day moving average of $96.45. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results 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 net margin of 22.74% and a return on equity of 12.00%. Research 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.