Brookwood Investment Group LLC Lowers Stock Position in Shopify Inc. $SHOP

Brookwood Investment Group LLC lowered its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 52.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,754 shares of the software maker’s stock after selling 5,317 shares during the quarter. Brookwood Investment Group LLC’s holdings in Shopify were worth $765,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Shopify by 1.2% during the third quarter. Vanguard Group Inc. now owns 49,926,824 shares of the software maker’s stock valued at $7,417,517,000 after buying an additional 610,129 shares during the period. Jennison Associates LLC lifted its position in Shopify by 64.3% during the third quarter. Jennison Associates LLC now owns 18,923,431 shares of the software maker’s stock valued at $2,812,211,000 after buying an additional 7,403,821 shares during the period. TD Asset Management Inc lifted its position in Shopify by 1.4% during the third quarter. TD Asset Management Inc now owns 8,528,510 shares of the software maker’s stock valued at $1,267,327,000 after buying an additional 118,836 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Shopify by 3.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,588,934 shares of the software maker’s stock valued at $978,679,000 after buying an additional 213,315 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of Shopify by 4.4% during the third quarter. Legal & General Group Plc now owns 6,188,885 shares of the software maker’s stock valued at $919,665,000 after acquiring an additional 260,968 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Royal Bank Of Canada set a $170.00 price target on Shopify and gave the company an “outperform” rating in a report on Thursday, February 12th. Jefferies Financial Group raised their price target on Shopify from $125.00 to $150.00 and gave the company a “hold” rating in a report on Monday, March 9th. Bank of America raised their price target on Shopify from $185.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Wedbush reduced their price target on Shopify from $185.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, February 12th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $175.00 price target on shares of Shopify in a report on Thursday, February 12th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and an average target price of $162.70.

Shopify Stock Performance

NASDAQ SHOP opened at $110.79 on Friday. Shopify Inc. has a one year low of $78.00 and a one year high of $182.19. The stock has a 50-day moving average of $120.35 and a 200 day moving average of $144.88. The company has a market capitalization of $144.48 billion, a price-to-earnings ratio of 119.13, a PEG ratio of 3.98 and a beta of 2.82.

Shopify Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.