Shopify Inc. (NYSE:SHOP) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. cut its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 13.0% during the fourth quarter, Holdings Channel reports. The firm owned 92,943 shares of the software maker’s stock after selling 13,917 shares during the period. Vontobel Holding Ltd.’s holdings in Shopify were worth $7,240,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. SJS Investment Consulting Inc. grew its holdings in Shopify by 59.1% during the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after acquiring an additional 130 shares during the period. PCA Investment Advisory Services Inc. acquired a new stake in Shopify during the second quarter worth about $27,000. Baldwin Brothers LLC MA grew its holdings in Shopify by 49.0% during the fourth quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock worth $35,000 after acquiring an additional 147 shares during the period. Global Trust Asset Management LLC grew its holdings in Shopify by 350.0% during the fourth quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock worth $35,000 after acquiring an additional 350 shares during the period. Finally, Vestor Capital LLC acquired a new stake in Shopify during the second quarter worth about $35,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SHOP. StockNews.com lowered Shopify from a “hold” rating to a “sell” rating in a report on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Shopify in a research report on Tuesday. CIBC increased their price target on Shopify from $82.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. The Goldman Sachs Group increased their price target on Shopify from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 price target on shares of Shopify in a research report on Wednesday, February 14th. Four equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Shopify has an average rating of “Hold” and a consensus price target of $78.00.

Shopify Stock Up 0.2 %

Shopify stock opened at $68.69 on Wednesday. Shopify Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $91.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99. The company has a market capitalization of $88.37 billion, a P/E ratio of 763.31 and a beta of 2.22. The stock has a 50-day simple moving average of $77.45 and a 200-day simple moving average of $71.76.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.04. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. Equities research analysts expect that Shopify Inc. will post 0.58 earnings per share for the current year.

About Shopify

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.