Achmea Investment Management B.V. Lowers Holdings in Shopify Inc. (NYSE:SHOP)

Achmea Investment Management B.V. trimmed its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 81.2% in the 4th quarter, HoldingsChannel reports. The fund owned 17,037 shares of the software maker’s stock after selling 73,359 shares during the quarter. Achmea Investment Management B.V.’s holdings in Shopify were worth $1,812,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in SHOP. FMR LLC grew its position in Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after acquiring an additional 5,869,795 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Shopify by 30.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,095,382 shares of the software maker’s stock worth $754,201,000 after purchasing an additional 1,647,374 shares in the last quarter. National Bank of Canada FI lifted its stake in Shopify by 28.0% during the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock worth $593,588,000 after purchasing an additional 1,621,981 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Shopify by 52.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker’s stock worth $308,390,000 after purchasing an additional 1,325,350 shares in the last quarter. Finally, Jennison Associates LLC acquired a new position in Shopify during the fourth quarter worth $132,323,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Performance

Shares of SHOP stock opened at $94.88 on Friday. The stock’s 50-day moving average is $110.88 and its two-hundred day moving average is $98.43. The firm has a market cap of $122.86 billion, a price-to-earnings ratio of 61.22, a PEG ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data 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, research analysts predict that Shopify Inc. will post 1.12 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Cantor Fitzgerald restated a “neutral” rating and set a $120.00 price target on shares of Shopify in a research note on Wednesday, February 12th. Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and upped their price target for the stock from $110.00 to $140.00 in a research note on Friday, December 6th. Robert W. Baird upped their price target on Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft increased their price objective on Shopify from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, Scotiabank increased their price objective on Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $126.31.

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.