X Square Capital LLC Sells 270 Shares of Shopify Inc. (NYSE:SHOP)

X Square Capital LLC cut its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.8% during the 4th quarter, Holdings Channel reports. The firm owned 9,303 shares of the software maker’s stock after selling 270 shares during the quarter. X Square Capital LLC’s holdings in Shopify were worth $989,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Shopify by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker’s stock worth $5,010,721,000 after purchasing an additional 781,162 shares during the period. Norges Bank bought a new stake in Shopify in the 4th quarter valued at about $1,542,262,000. National Bank of Canada FI lifted its holdings in Shopify by 28.0% during the 3rd 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. Connor Clark & Lunn Investment Management Ltd. grew 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 valued at $754,201,000 after acquiring an additional 1,647,374 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Shopify by 9.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker’s stock worth $432,573,000 after acquiring an additional 471,280 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Morgan Stanley boosted their price target on shares of Shopify from $126.00 to $144.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Citigroup upped their target price on Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Cantor Fitzgerald reissued a “neutral” rating and set a $120.00 price objective on shares of Shopify in a report on Wednesday, February 12th. Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and raised their target price for the company from $110.00 to $140.00 in a research note on Friday, December 6th. Finally, Evercore ISI boosted 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 given 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Down 1.6 %

Shares of SHOP opened at $102.64 on Friday. The stock has a market cap of $132.90 billion, a P/E ratio of 66.22, a P/E/G ratio of 4.82 and a beta of 2.60. The business’s 50 day moving average price is $110.35 and its 200-day moving average price is $100.35. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last released 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, equities analysts anticipate that Shopify Inc. will post 1.12 EPS 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.