GC Wealth Management RIA LLC Sells 494 Shares of Shopify Inc. (NYSE:SHOP)

GC Wealth Management RIA LLC decreased its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 9.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,718 shares of the software maker’s stock after selling 494 shares during the period. GC Wealth Management RIA LLC’s holdings in Shopify were worth $502,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of SHOP. PFG Private Wealth Management LLC increased its holdings in shares of Shopify by 3,657.1% in the 4th 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. Brooklyn Investment Group bought a new stake in shares of Shopify in the 3rd quarter worth $33,000. New Wave Wealth Advisors LLC bought a new stake in shares of Shopify in the 4th quarter worth $39,000. Mather Group LLC. increased its holdings in shares of Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after purchasing an additional 184 shares in the last quarter. Finally, Truvestments Capital LLC bought a new stake in shares of Shopify in the third quarter worth $45,000. Institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on SHOP shares. Loop Capital raised Shopify from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $110.00 to $140.00 in a report on Friday, December 6th. Benchmark raised Shopify from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a report on Monday, February 10th. Morgan Stanley boosted their price target on Shopify from $126.00 to $144.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Mizuho boosted their price objective on Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Finally, TD Securities boosted their price objective on Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. One equities 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Shopify has an average rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Performance

SHOP opened at $92.79 on Wednesday. The stock has a market cap of $120.15 billion, a price-to-earnings ratio of 59.86, a P/E/G ratio of 4.82 and a beta of 2.60. The stock’s 50 day moving average price is $111.70 and its 200-day moving average price is $98.36. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, February 11th. The software maker reported $0.34 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%. As a group, analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal 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.