LM Advisors LLC Trims Holdings in Shopify Inc. (NYSE:SHOP)

LM Advisors LLC reduced its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 10.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 4,036 shares of the software maker’s stock after selling 464 shares during the period. LM Advisors LLC’s holdings in Shopify were worth $429,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. AssuredPartners Investment Advisors LLC acquired a new position in shares of Shopify in the fourth quarter valued at approximately $299,000. Sava Infond d.o.o. acquired a new position in Shopify in the 4th quarter valued at $117,000. Korea Investment CORP raised its position in Shopify by 0.6% during the 4th quarter. Korea Investment CORP now owns 1,003,030 shares of the software maker’s stock worth $106,695,000 after buying an additional 6,014 shares during the last quarter. Mufg Securities Canada LTD. lifted its stake in shares of Shopify by 72.4% in the 4th quarter. Mufg Securities Canada LTD. now owns 1,852,031 shares of the software maker’s stock worth $196,984,000 after acquiring an additional 777,696 shares during the period. Finally, Mark Sheptoff Financial Planning LLC boosted its holdings in shares of Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SHOP. Piper Sandler raised their price objective on shares of Shopify from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Canaccord Genuity Group raised their price target on Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. TD Securities upped their price objective on Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. Cantor Fitzgerald restated a “neutral” rating and set a $120.00 target price on shares of Shopify in a research report on Wednesday, February 12th. Finally, Jefferies Financial Group increased their price target on shares of Shopify from $110.00 to $130.00 and gave the company a “hold” rating in a report on Tuesday, February 18th. One research 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Down 1.6 %

SHOP opened at $102.64 on Friday. The firm’s 50 day moving average is $110.35 and its 200-day moving average is $100.35. The firm has a market capitalization of $132.90 billion, a P/E ratio of 66.22, a P/E/G 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 issued its quarterly earnings data 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%. Equities analysts expect that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

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.