Oppenheimer & Co. Inc. Sells 6,515 Shares of Shopify Inc. (NYSE:SHOP)

Oppenheimer & Co. Inc. lessened its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 19.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,094 shares of the software maker’s stock after selling 6,515 shares during the period. Oppenheimer & Co. Inc.’s holdings in Shopify were worth $2,881,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SHOP. Baillie Gifford & Co. boosted its position in shares of Shopify by 14.7% during the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after purchasing an additional 8,131,160 shares in the last quarter. FMR LLC boosted its position in shares of Shopify by 16.1% during the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after purchasing an additional 5,869,795 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Shopify by 6.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker’s stock valued at $658,248,000 after purchasing an additional 484,561 shares in the last quarter. National Bank of Canada FI boosted its position in shares of Shopify by 28.0% during the 3rd quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after purchasing an additional 1,621,981 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Shopify by 9.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker’s stock valued at $432,573,000 after purchasing an additional 471,280 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on SHOP. CIBC upped their target price on Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Wells Fargo & Company upped their target price on Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Atb Cap Markets lowered Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Phillip Securities downgraded Shopify from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, February 17th. Finally, TD Securities upped their price target on Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $126.31.

Shopify Trading Up 1.0 %

Shares of SHOP opened at $111.97 on Monday. The company has a market capitalization of $144.98 billion, a price-to-earnings ratio of 72.24, a PEG ratio of 4.82 and a beta of 2.47. The stock has a 50 day moving average of $112.88 and a 200 day moving average of $97.12. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced 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 net margin of 22.74% and a return on equity of 12.00%. As a group, equities research analysts predict that Shopify Inc. will post 1.12 earnings per share 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.