APG Asset Management N.V. Lowers Holdings in Shopify Inc. (NYSE:SHOP)

APG Asset Management N.V. lowered its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 16.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,140 shares of the software maker’s stock after selling 12,795 shares during the quarter. APG Asset Management N.V.’s holdings in Shopify were worth $6,692,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. M&T Bank Corp grew its position in shares of Shopify by 2.4% during the third quarter. M&T Bank Corp now owns 42,051 shares of the software maker’s stock valued at $3,370,000 after purchasing an additional 1,001 shares in the last quarter. Geode Capital Management LLC boosted its stake in Shopify by 9.6% during the third quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker’s stock valued at $432,573,000 after buying an additional 471,280 shares during the last quarter. Coldstream Capital Management Inc. boosted its stake in Shopify by 14.3% during the third quarter. Coldstream Capital Management Inc. now owns 4,140 shares of the software maker’s stock valued at $339,000 after buying an additional 518 shares during the last quarter. Arete Wealth Advisors LLC bought a new stake in Shopify in the 3rd quarter worth approximately $568,000. Finally, TD Private Client Wealth LLC purchased a new stake in shares of Shopify during the 3rd quarter worth approximately $1,232,000. Institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

SHOP has been the topic of several research reports. Oppenheimer boosted their price target on shares of Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Citigroup boosted their target price on shares of Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Phillip Securities downgraded shares of Shopify from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, February 17th. Evercore ISI boosted their price objective on Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, Robert W. Baird raised their price objective on Shopify from $126.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Stock Performance

Shares of SHOP opened at $83.71 on Friday. The stock has a market capitalization of $108.39 billion, a PE ratio of 54.01, a PEG ratio of 4.82 and a beta of 2.82. The company has a 50 day moving average price of $104.13 and a 200-day moving average price of $101.48. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) 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%. Equities research analysts forecast that Shopify Inc. will post 1.12 EPS for the current year.

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.