Interchange Capital Partners LLC Reduces Stock Position in Shopify Inc. (NYSE:SHOP)

Interchange Capital Partners LLC trimmed its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 13.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,795 shares of the software maker’s stock after selling 2,077 shares during the period. Interchange Capital Partners LLC’s holdings in Shopify were worth $1,467,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. PFG Private Wealth Management LLC increased its stake in shares of Shopify by 3,657.1% in the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after acquiring an additional 256 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Shopify in the third quarter worth $33,000. New Wave Wealth Advisors LLC purchased a new position in Shopify in the 4th quarter worth about $39,000. Mather Group LLC. lifted its position in Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after purchasing an additional 184 shares during the period. Finally, Truvestments Capital LLC bought a new position in shares of Shopify during the 3rd quarter valued at $45,000. 69.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SHOP. Scotiabank increased their price objective on shares of Shopify from $115.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 12th. Piper Sandler lifted their price objective on Shopify from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Cantor Fitzgerald reiterated a “neutral” rating and set a $120.00 price objective on shares of Shopify in a research note on Wednesday, February 12th. Barclays raised their target price on shares of Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. Finally, Truist Financial increased their price objective on shares of Shopify from $110.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $126.31.

Shopify Price Performance

Shares of NYSE:SHOP opened at $104.29 on Monday. The firm has a market capitalization of $135.04 billion, a PE ratio of 67.29, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. The business has a 50 day simple moving average of $110.04 and a two-hundred day simple moving average of $99.73. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data 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 net margin of 22.74% and a return on equity of 12.00%. Equities research analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal 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.