Sterling Investment Advisors Ltd. Has $3.58 Million Stake in Shopify Inc. (NYSE:SHOP)

Sterling Investment Advisors Ltd. decreased its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 33,630 shares of the software maker’s stock after selling 1,266 shares during the quarter. Sterling Investment Advisors Ltd.’s holdings in Shopify were worth $3,576,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Howland Capital Management LLC boosted its stake in Shopify by 2.0% during the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock valued at $526,000 after purchasing an additional 99 shares during the period. Trust Co. of Vermont boosted its stake in Shopify by 9.9% during the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after purchasing an additional 100 shares during the period. First United Bank & Trust lifted its position in shares of Shopify by 2.2% in the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock worth $488,000 after acquiring an additional 100 shares during the period. Sunbelt Securities Inc. lifted its position in shares of Shopify by 0.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock worth $1,162,000 after acquiring an additional 105 shares during the period. Finally, Redhawk Wealth Advisors Inc. lifted its position in shares of Shopify by 3.3% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock worth $357,000 after acquiring an additional 107 shares during the period. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Down 0.1 %

NYSE:SHOP opened at $115.45 on Tuesday. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The firm has a market capitalization of $149.48 billion, a P/E ratio of 74.48, a P/E/G ratio of 4.82 and a beta of 2.47. The stock’s fifty day simple moving average is $112.84 and its 200-day simple moving average is $95.93.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) 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%. As a group, equities research analysts expect that Shopify Inc. will post 1.12 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on SHOP. JMP Securities reiterated a “market outperform” rating and issued a $120.00 price objective on shares of Shopify in a research report on Thursday, December 12th. CIBC raised their price objective on Shopify from $135.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Jefferies Financial Group raised their price objective on Shopify from $110.00 to $130.00 and gave the stock a “hold” rating in a research report on Tuesday, February 18th. Morgan Stanley raised their price objective on Shopify from $126.00 to $144.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Finally, Wedbush reiterated an “outperform” rating and issued a $125.00 price objective on shares of Shopify in a research report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $126.31.

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.