Callan Capital LLC Cuts Stock Holdings in Shopify Inc. (NYSE:SHOP)

Callan Capital LLC lowered its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 8.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,793 shares of the software maker’s stock after selling 442 shares during the period. Callan Capital LLC’s holdings in Shopify were worth $510,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. VisionPoint Advisory Group LLC acquired a new stake in shares of Shopify in the fourth quarter worth $124,000. Lane & Associates LLC acquired a new stake in shares of Shopify in the fourth quarter worth $203,000. O Neil Global Advisors Inc. acquired a new stake in shares of Shopify in the fourth quarter worth $2,018,000. Cromwell Holdings LLC increased its position in shares of Shopify by 18.9% in the fourth quarter. Cromwell Holdings LLC now owns 2,442 shares of the software maker’s stock worth $260,000 after acquiring an additional 388 shares in the last quarter. Finally, Prakash Investment Advisors LLC acquired a new stake in shares of Shopify in the fourth quarter worth $1,054,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SHOP shares. Royal Bank of Canada increased their price objective on shares of Shopify from $130.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group increased their price objective on shares of Shopify from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. increased their price objective on shares of Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. DA Davidson raised their price target 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, Scotiabank raised their price target on shares of Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Stock Performance

Shopify stock opened at $115.40 on Friday. The firm’s 50-day moving average is $112.85 and its 200-day moving average is $95.38. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The company has a market cap of $149.42 billion, a P/E ratio of 74.45, a PEG ratio of 4.82 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly 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%. As a group, sell-side analysts predict that Shopify Inc. will post 1.12 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.