Vontobel Holding Ltd. Trims Holdings in Shopify Inc. (NYSE:SHOP)

Vontobel Holding Ltd. decreased its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,748 shares of the software maker’s stock after selling 690 shares during the quarter. Vontobel Holding Ltd.’s holdings in Shopify were worth $1,674,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. SFE Investment Counsel purchased a new stake in Shopify in the fourth quarter valued at $229,000. McClarren Financial Advisors Inc. raised its position in Shopify by 225.0% in the fourth quarter. McClarren Financial Advisors Inc. now owns 520 shares of the software maker’s stock valued at $55,000 after purchasing an additional 360 shares during the period. Naples Global Advisors LLC raised its position in Shopify by 22.2% in the fourth quarter. Naples Global Advisors LLC now owns 4,709 shares of the software maker’s stock valued at $501,000 after purchasing an additional 855 shares during the period. Van ECK Associates Corp raised its position in Shopify by 18.2% in the fourth quarter. Van ECK Associates Corp now owns 49,444 shares of the software maker’s stock valued at $5,258,000 after purchasing an additional 7,615 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in Shopify by 150.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 475,564 shares of the software maker’s stock valued at $51,121,000 after purchasing an additional 285,737 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Morgan Stanley lifted their price objective on Shopify from $126.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group boosted their target price on Shopify from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. KeyCorp boosted their target price on Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Mizuho boosted their target price on Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Finally, DZ Bank cut Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Shopify currently has an average rating of “Moderate Buy” and an average price target of $126.21.

Shopify Stock Up 0.6 %

Shares of NYSE SHOP opened at $128.36 on Tuesday. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $128.57. The company has a market cap of $165.85 billion, a P/E ratio of 119.96, a P/E/G ratio of 2.49 and a beta of 2.47. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The stock has a fifty day moving average price of $111.90 and a 200 day moving average price of $93.20.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced 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 net margin of 16.84% and a return on equity of 11.60%. Research analysts anticipate that Shopify Inc. will post 0.91 EPS for the current fiscal year.

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.