M&T Bank Corp Trims Holdings in Shopify Inc. (NYSE:SHOP)

M&T Bank Corp lowered its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,265 shares of the software maker’s stock after selling 689 shares during the period. M&T Bank Corp’s holdings in Shopify were worth $1,812,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wealth Management Partners LLC boosted its stake in shares of Shopify by 0.9% during the fourth quarter. Wealth Management Partners LLC now owns 13,922 shares of the software maker’s stock worth $1,085,000 after buying an additional 126 shares during the period. SJS Investment Consulting Inc. raised its stake in Shopify by 59.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after acquiring an additional 130 shares during the last quarter. Pachira Investments Inc. lifted its position in Shopify by 2.1% during the 4th quarter. Pachira Investments Inc. now owns 7,084 shares of the software maker’s stock worth $552,000 after acquiring an additional 146 shares during the period. Baldwin Brothers LLC MA grew its stake in shares of Shopify by 49.0% in the 4th quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock valued at $35,000 after purchasing an additional 147 shares during the last quarter. Finally, Capital Advisors Inc. OK increased its holdings in shares of Shopify by 1.7% in the fourth quarter. Capital Advisors Inc. OK now owns 9,283 shares of the software maker’s stock valued at $723,000 after purchasing an additional 153 shares during the period. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. ATB Capital lifted their price objective on shares of Shopify from $105.00 to $110.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 14th. Loop Capital lowered their target price on shares of Shopify from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Monday, April 15th. BNP Paribas raised shares of Shopify from an “underperform” rating to an “outperform” rating in a report on Thursday, May 2nd. The Goldman Sachs Group lowered their price objective on Shopify from $75.00 to $67.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Wells Fargo & Company cut their target price on Shopify from $85.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $76.86.

Shopify Stock Down 0.4 %

SHOP opened at $62.47 on Friday. The business’s fifty day simple moving average is $74.48 and its 200 day simple moving average is $73.70. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57. The firm has a market cap of $80.37 billion, a P/E ratio of 694.11 and a beta of 2.20. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) 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 analysts’ expectations of $2.07 billion. Shopify had a net margin of 1.87% and a return on equity of 4.48%. As a group, equities research analysts anticipate that Shopify Inc. will post 0.59 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.