Boothe Investment Group Inc. Sells 8,375 Shares of Shopify Inc. (NYSE:SHOP)

Boothe Investment Group Inc. lowered its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 12.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,299 shares of the software maker’s stock after selling 8,375 shares during the quarter. Shopify accounts for 2.7% of Boothe Investment Group Inc.’s investment portfolio, making the stock its 15th largest holding. Boothe Investment Group Inc.’s holdings in Shopify were worth $6,199,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new position in Shopify in the 4th quarter valued at $3,513,000. World Equity Group Inc. grew its stake in Shopify by 106.7% in the 4th quarter. World Equity Group Inc. now owns 9,062 shares of the software maker’s stock valued at $964,000 after purchasing an additional 4,678 shares during the period. Wealthspire Advisors LLC grew its stake in Shopify by 3.9% in the 4th quarter. Wealthspire Advisors LLC now owns 14,677 shares of the software maker’s stock valued at $1,561,000 after purchasing an additional 545 shares during the period. Olympiad Research LP bought a new position in Shopify in the 4th quarter valued at $321,000. Finally, Sigma Planning Corp grew its stake in Shopify by 3.0% in the 4th quarter. Sigma Planning Corp now owns 16,410 shares of the software maker’s stock valued at $1,745,000 after purchasing an additional 471 shares during the period. Institutional investors own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SHOP. Barclays upped their price objective on Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. KeyCorp increased their price target on Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. ATB Capital increased their price target on Shopify from $145.00 to $170.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 12th. DA Davidson increased their price target on Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, Citigroup increased their price target on Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Price Performance

SHOP opened at $115.40 on Monday. The stock’s 50 day simple moving average is $112.85 and its 200 day simple moving average is $95.60. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The firm has a market cap of $149.42 billion, a price-to-earnings 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 the consensus estimate 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 anticipate that Shopify Inc. will post 1.12 EPS for the current year.

Shopify Company 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.