Thoroughbred Financial Services LLC Reduces Stake in Shopify Inc. (NYSE:SHOP)

by · The Cerbat Gem

Thoroughbred Financial Services LLC trimmed its stake in Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) by 0.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 110,182 shares of the software maker’s stock after selling 906 shares during the period. Shopify comprises approximately 0.7% of Thoroughbred Financial Services LLC’s holdings, making the stock its 28th largest position. Thoroughbred Financial Services LLC’s holdings in Shopify were worth $11,715,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SHOP. Allianz SE bought a new position in shares of Shopify during the fourth quarter valued at approximately $27,000. PFG Private Wealth Management LLC boosted 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 purchasing an additional 256 shares during the period. Mark Sheptoff Financial Planning LLC lifted its holdings in Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new stake in Shopify in the 4th quarter valued at about $39,000. Finally, Mather Group LLC. grew its stake in Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after acquiring an additional 184 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Down 18.2 %

NYSE:SHOP opened at $82.29 on Friday. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The firm has a market cap of $106.55 billion, a P/E ratio of 53.09, a PEG ratio of 4.82 and a beta of 2.81. The business’s 50-day moving average price is $109.29 and its 200 day moving average price is $101.20.

Shopify (NYSE:SHOP – Get Free Report) (TSE:SHOP) last announced its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. Sell-side analysts expect that Shopify Inc. will post 1.12 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SHOP. TD Securities raised their price target on Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. Barclays raised their target price on shares of Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. UBS Group upped their price target on shares of Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. DA Davidson lifted their price objective on shares of Shopify from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, 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. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $126.31.

Get Our Latest Stock Analysis on Shopify

Shopify Profile

(Free Report)

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.

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