MONECO Advisors LLC Sells 263 Shares of Shopify Inc. (NYSE:SHOP)

MONECO Advisors LLC decreased its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.8% during the fourth quarter, HoldingsChannel reports. The fund owned 6,685 shares of the software maker’s stock after selling 263 shares during the quarter. MONECO Advisors LLC’s holdings in Shopify were worth $711,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Private Advisor Group LLC grew its holdings in shares of Shopify by 0.5% in the third quarter. Private Advisor Group LLC now owns 57,244 shares of the software maker’s stock worth $4,588,000 after purchasing an additional 268 shares during the last quarter. Greenleaf Trust bought a new position in shares of Shopify in the third quarter worth about $301,000. International Assets Investment Management LLC grew its holdings in shares of Shopify by 7,928.7% in the third quarter. International Assets Investment Management LLC now owns 1,141,915 shares of the software maker’s stock worth $91,513,000 after purchasing an additional 1,127,692 shares during the last quarter. Dakota Wealth Management grew its holdings in shares of Shopify by 14.9% in the third quarter. Dakota Wealth Management now owns 8,916 shares of the software maker’s stock worth $715,000 after purchasing an additional 1,157 shares during the last quarter. Finally, Ballentine Partners LLC bought a new position in shares of Shopify in the third quarter worth about $415,000. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 6.5 %

Shares of NYSE:SHOP opened at $115.40 on Monday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The company’s 50 day moving average is $112.85 and its 200 day moving average is $95.60. The company has a market cap of $149.42 billion, a PE ratio of 74.45, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results 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%. Equities research analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SHOP has been the subject of a number of research reports. New Street Research initiated coverage on shares of Shopify in a research note on Friday, January 10th. They issued a “neutral” rating and a $115.00 price objective for the company. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Canaccord Genuity Group upped their price objective on shares of Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. upped their price objective on shares of Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, Citigroup upped their price objective on shares of Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $126.31.

Shopify Company 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.