Shopify Inc. (NYSE:SHOP) Shares Sold by Personal CFO Solutions LLC

Personal CFO Solutions LLC decreased its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,340 shares of the software maker’s stock after selling 264 shares during the period. Personal CFO Solutions LLC’s holdings in Shopify were worth $2,056,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. PFG Private Wealth Management LLC lifted its stake in shares of Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after purchasing an additional 256 shares during the period. Brooklyn Investment Group acquired a new position in Shopify during the third quarter worth about $33,000. New Wave Wealth Advisors LLC acquired a new position in Shopify during the fourth quarter worth about $39,000. Mather Group LLC. raised its position in Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after acquiring an additional 184 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new position in Shopify during the third quarter worth about $45,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Down 2.4 %

SHOP opened at $100.00 on Friday. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The company has a 50 day moving average of $112.26 and a two-hundred day moving average of $97.96. The company has a market cap of $129.48 billion, a P/E ratio of 64.52, a P/E/G ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted 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 return on equity of 12.00% and a net margin of 22.74%. Research analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SHOP shares. Moffett Nathanson lifted their target price on shares of Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. lifted their target price on shares of Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. New Street Research initiated coverage on shares of Shopify in a research report on Friday, January 10th. They set a “neutral” rating and a $115.00 target price for the company. Evercore ISI boosted their price objective on shares of Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $120.00 price objective on shares of Shopify in a research report 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 given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $126.31.

About Shopify

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.