Claret Asset Management Corp Cuts Stock Position in Shopify Inc. (NYSE:SHOP)

Claret Asset Management Corp cut its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,524 shares of the software maker’s stock after selling 681 shares during the period. Claret Asset Management Corp’s holdings in Shopify were worth $1,651,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Tidemark LLC raised its stake in Shopify by 3.6% during the fourth quarter. Tidemark LLC now owns 2,592 shares of the software maker’s stock worth $276,000 after purchasing an additional 90 shares during the period. Howland Capital Management LLC raised its position in shares of Shopify by 2.0% in the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock worth $526,000 after buying an additional 99 shares during the period. Trust Co. of Vermont boosted its holdings in Shopify by 9.9% in the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after acquiring an additional 100 shares during the last quarter. First United Bank & Trust increased its stake in Shopify by 2.2% during the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock worth $488,000 after acquiring an additional 100 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC increased its position in Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Down 0.4 %

SHOP stock opened at $83.65 on Friday. The business has a fifty day moving average of $100.46 and a 200-day moving average of $101.46. The company has a market cap of $108.31 billion, a P/E ratio of 53.97, a PEG ratio of 4.82 and a beta of 2.82. Shopify Inc. has a twelve month low of $48.56 and a twelve month 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, equities research analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SHOP shares. Royal Bank of Canada reduced their price target on Shopify from $145.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday. Wedbush restated an “outperform” rating and set a $110.00 target price on shares of Shopify in a research note on Tuesday. New Street Research started coverage on Shopify in a research note on Friday, January 10th. They set a “neutral” rating and a $115.00 price objective for the company. DA Davidson cut their target price on shares of Shopify from $150.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, ATB Capital lifted their target price on Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. One 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. Based on data from MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.94.

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.