Shopify Inc. (NYSE:SHOP) Position Decreased by First Horizon Advisors Inc.

First Horizon Advisors Inc. reduced its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 7.8% during the fourth quarter, Holdings Channel reports. The firm owned 4,203 shares of the software maker’s stock after selling 355 shares during the period. First Horizon Advisors Inc.’s holdings in Shopify were worth $327,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SHOP. Artisan Partners Limited Partnership lifted its position in shares of Shopify by 78.4% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,809,633 shares of the software maker’s stock valued at $262,462,000 after acquiring an additional 2,113,773 shares during the last quarter. Baillie Gifford & Co. boosted its position in shares of Shopify by 2.3% in the 4th quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock valued at $4,998,476,000 after purchasing an additional 1,419,749 shares during the period. Quadrature Capital Ltd purchased a new position in Shopify in the 3rd quarter worth about $68,746,000. International Assets Investment Management LLC raised its holdings in Shopify by 6,637.3% during the 4th quarter. International Assets Investment Management LLC now owns 1,188,598 shares of the software maker’s stock worth $92,592,000 after buying an additional 1,170,956 shares during the period. Finally, Hudson Bay Capital Management LP purchased a new stake in Shopify during the third quarter valued at about $49,113,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wedbush reissued a “neutral” rating and issued a $68.00 target price on shares of Shopify in a research report on Tuesday, February 13th. National Bankshares increased their target price on Shopify from $80.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Truist Financial lifted their price target on Shopify from $65.00 to $90.00 and gave the company a “hold” rating in a report on Monday, February 12th. UBS Group increased their price objective on Shopify from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Finally, The Goldman Sachs Group lifted their target price on Shopify from $67.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Shopify presently has an average rating of “Hold” and an average price target of $79.00.

Shopify Stock Up 3.4 %

SHOP stock opened at $74.46 on Monday. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10. The company has a market cap of $95.80 billion, a PE ratio of 827.43 and a beta of 2.20. The business’s 50-day simple moving average is $74.73 and its 200 day simple moving average is $73.42.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.04. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. On average, research analysts anticipate that Shopify Inc. will post 0.59 earnings per share for the current 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.