Aigen Investment Management LP Sells 3,372 Shares of Shopify Inc. (NYSE:SHOP)

Aigen Investment Management LP lessened its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 54.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,811 shares of the software maker’s stock after selling 3,372 shares during the period. Aigen Investment Management LP’s holdings in Shopify were worth $299,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. New Wave Wealth Advisors LLC bought a new position in Shopify in the 4th quarter valued at approximately $39,000. Mather Group LLC. raised its holdings in Shopify by 84.8% in 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 last quarter. Brooklyn Investment Group bought a new position in Shopify in the 3rd quarter valued at approximately $33,000. Sierra Ocean LLC bought a new position in Shopify in the 4th quarter valued at approximately $46,000. Finally, Synergy Asset Management LLC bought a new position in Shopify in the 4th quarter valued at approximately $55,000. Institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

SHOP 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 P/E/G ratio of 4.82 and a beta of 2.60. The firm’s fifty day moving average price is $112.26 and its two-hundred day moving average price is $97.96. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued 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 return on equity of 12.00% and a net margin of 22.74%. As a group, equities analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

Analyst Upgrades and Downgrades

SHOP has been the subject of several analyst reports. Canaccord Genuity Group raised their price target on shares of Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Loop Capital upgraded shares of Shopify from a “hold” rating to a “buy” rating and raised their price target for the stock from $110.00 to $140.00 in a report on Friday, December 6th. Mizuho raised their price target on shares of Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Finally, Barclays raised their price target on shares of Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. One 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

About Shopify

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.