Bamco Inc. NY Sells 139,224 Shares of Shopify Inc. (NYSE:SHOP)

Bamco Inc. NY decreased its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,581,257 shares of the software maker’s stock after selling 139,224 shares during the period. Shopify accounts for about 0.7% of Bamco Inc. NY’s portfolio, making the stock its 27th largest holding. Bamco Inc. NY’s holdings in Shopify were worth $274,465,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. World Investment Advisors LLC raised its holdings in Shopify by 113.4% in the 3rd quarter. World Investment Advisors LLC now owns 12,751 shares of the software maker’s stock valued at $1,022,000 after acquiring an additional 6,776 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Shopify in the 3rd quarter valued at about $615,000. Synovus Financial Corp acquired a new position in shares of Shopify in the 3rd quarter valued at approximately $481,000. Peapack Gladstone Financial Corp lifted its holdings in shares of Shopify by 29.3% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 9,551 shares of the software maker’s stock worth $765,000 after acquiring an additional 2,162 shares during the period. Finally, Modus Advisors LLC acquired a new stake in shares of Shopify during the 4th quarter worth approximately $64,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

SHOP has been the subject of several research analyst reports. Truist Financial boosted their target price on Shopify from $110.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. UBS Group boosted their price target on shares of Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. CIBC raised their target price on Shopify from $135.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. ATB Capital upped their price objective on shares of Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. Finally, Mizuho decreased their price target on shares of Shopify from $110.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, fourteen 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, Shopify presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.14.

Shopify Stock Performance

Shares of NYSE:SHOP opened at $99.25 on Friday. The firm has a fifty day moving average of $94.71 and a 200 day moving average of $102.44. The firm has a market capitalization of $128.51 billion, a PE ratio of 64.03, a price-to-earnings-growth ratio of 4.82 and a beta of 2.66. 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 earnings per share 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%. On average, sell-side analysts forecast that Shopify Inc. will post 1.12 EPS for the current fiscal 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.