Boyd Watterson Asset Management LLC OH Trims Stock Position in Shopify Inc. (NYSE:SHOP)

Boyd Watterson Asset Management LLC OH lessened its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,664 shares of the software maker’s stock after selling 100 shares during the period. Boyd Watterson Asset Management LLC OH’s holdings in Shopify were worth $2,835,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Howland Capital Management LLC grew its holdings in shares of Shopify by 2.0% during the fourth quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock worth $526,000 after purchasing an additional 99 shares in the last quarter. Trust Co. of Vermont grew its stake in Shopify by 9.9% in the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock worth $118,000 after buying an additional 100 shares in the last quarter. First United Bank & Trust increased its holdings in shares of Shopify by 2.2% in the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock worth $488,000 after buying an additional 100 shares during the last quarter. Sunbelt Securities Inc. raised its position in shares of Shopify by 0.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock valued at $1,162,000 after buying an additional 105 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. raised its position in shares of Shopify by 3.3% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock valued at $357,000 after buying an additional 107 shares in the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Price Performance

Shares of NYSE:SHOP opened at $115.40 on Friday. The company has a market capitalization of $149.42 billion, a PE ratio of 74.45, a PEG ratio of 4.82 and a beta of 2.47. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The business has a fifty day moving average price of $112.85 and a 200-day moving average price of $95.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 11th. The software maker reported $0.34 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%. On average, sell-side analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SHOP has been the topic of a number of research analyst reports. Morgan Stanley increased their target price on Shopify from $126.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Wedbush reiterated an “outperform” rating and set a $125.00 price objective on shares of Shopify in a research report on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft boosted their target price on Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. increased their price target on shares of Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Finally, Evercore ISI lifted their price target on shares of Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

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.