Douglass Winthrop Advisors LLC Sells 597 Shares of Shopify Inc. (NYSE:SHOP)

Douglass Winthrop Advisors LLC lowered its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.0% in the fourth quarter, HoldingsChannel reports. The fund owned 19,055 shares of the software maker’s stock after selling 597 shares during the period. Douglass Winthrop Advisors LLC’s holdings in Shopify were worth $2,026,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Whittier Trust Co. boosted its stake in shares of Shopify by 4.0% in the 4th quarter. Whittier Trust Co. now owns 5,262 shares of the software maker’s stock valued at $560,000 after purchasing an additional 202 shares during the last quarter. BluePointe Capital Management LLC boosted its stake in Shopify by 5.3% in the fourth quarter. BluePointe Capital Management LLC now owns 10,285 shares of the software maker’s stock valued at $1,094,000 after acquiring an additional 522 shares during the last quarter. Blueshift Asset Management LLC grew its holdings in Shopify by 71.7% during the 4th quarter. Blueshift Asset Management LLC now owns 9,380 shares of the software maker’s stock worth $997,000 after acquiring an additional 3,918 shares during the period. Royal London Asset Management Ltd. grew its holdings in Shopify by 32.6% during the 4th quarter. Royal London Asset Management Ltd. now owns 437,532 shares of the software maker’s stock worth $46,523,000 after acquiring an additional 107,650 shares during the period. Finally, Kazazian Asset Management LLC acquired a new position in shares of Shopify in the 4th quarter valued at $388,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SHOP shares. JMP Securities reaffirmed a “market outperform” rating and set a $120.00 price objective on shares of Shopify in a research note on Thursday, December 12th. Piper Sandler boosted their target price on Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Loop Capital upgraded shares of Shopify from a “hold” rating to a “buy” rating and boosted their price objective for the company from $110.00 to $140.00 in a report on Friday, December 6th. Wells Fargo & Company increased their target price on shares of Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, Phillip Securities lowered shares of Shopify from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, February 17th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and an average price target of $126.31.

Shopify Trading Up 0.3 %

Shares of SHOP opened at $101.84 on Friday. The company has a market cap of $131.86 billion, a price-to-earnings ratio of 65.70, a PEG ratio of 4.82 and a beta of 2.60. The company’s fifty day simple moving average is $110.03 and its 200 day simple moving average is $99.12. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data 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 return on equity of 12.00% and a net margin of 22.74%. As a group, research analysts forecast 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.