Howard Bailey Securities LLC Sells 2,209 Shares of Shopify Inc. (NYSE:SHOP)

Howard Bailey Securities LLC decreased its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 42.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,949 shares of the software maker’s stock after selling 2,209 shares during the quarter. Howard Bailey Securities LLC’s holdings in Shopify were worth $314,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SHOP. Baillie Gifford & Co. raised its holdings in Shopify by 14.7% during the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after purchasing an additional 8,131,160 shares during the last quarter. FMR LLC lifted its holdings in Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after buying an additional 5,869,795 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Shopify by 6.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker’s stock worth $658,248,000 after acquiring an additional 484,561 shares during the period. National Bank of Canada FI raised its position in shares of Shopify by 28.0% in 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 acquiring an additional 1,621,981 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Shopify by 9.6% in the third quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker’s stock valued at $432,573,000 after buying an additional 471,280 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

NYSE:SHOP opened at $120.46 on Thursday. The business has a 50 day moving average price of $111.29 and a 200-day moving average price of $91.82. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $125.95. The firm has a market cap of $155.65 billion, a PE ratio of 112.58, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly 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 11.60% and a net margin of 16.84%. Equities research analysts predict that Shopify Inc. will post 0.91 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SHOP shares. DA Davidson upped their price objective on shares of Shopify from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday. Atb Cap Markets cut Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. The Goldman Sachs Group boosted their price target on shares of Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday. Benchmark raised shares of Shopify from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a research note on Monday. Finally, Canaccord Genuity Group boosted their target price on shares of Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five 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 $125.14.

Shopify 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.