Johnson Investment Counsel Inc. Sells 798 Shares of Shopify Inc. (NYSE:SHOP)

Johnson Investment Counsel Inc. lessened its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 12.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,383 shares of the software maker’s stock after selling 798 shares during the period. Johnson Investment Counsel Inc.’s holdings in Shopify were worth $572,000 at the end of the most recent reporting period.

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

Shopify Stock Performance

NYSE:SHOP opened at $96.54 on Thursday. The stock has a 50-day simple moving average of $111.51 and a 200 day simple moving average of $98.34. The company has a market cap of $125.00 billion, a PE ratio of 62.29, a PEG ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. On average, research analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SHOP. DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Barclays upped their price target on Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Royal Bank of Canada increased their target price on Shopify from $130.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group increased their target price on Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, ATB Capital increased 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 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus 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.