Daiwa Securities Group Inc. Reduces Position in Shopify Inc. (NYSE:SHOP)

Daiwa Securities Group Inc. lessened its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 43.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,270 shares of the software maker’s stock after selling 975 shares during the period. Daiwa Securities Group Inc.’s holdings in Shopify were worth $135,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Jennison Associates LLC purchased a new stake in Shopify during the 4th quarter valued at about $132,323,000. Watts Gwilliam & Co. LLC grew its stake in shares of Shopify by 53.0% in the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after buying an additional 4,641 shares during the period. Teachers Retirement System of The State of Kentucky grew its stake in shares of Shopify by 29.3% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock valued at $27,409,000 after buying an additional 77,500 shares during the period. Wahed Invest LLC grew its stake in shares of Shopify by 18.4% in the 3rd quarter. Wahed Invest LLC now owns 57,624 shares of the software maker’s stock valued at $4,618,000 after buying an additional 8,960 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Shopify in the 3rd quarter valued at approximately $33,676,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Trading Up 2.0 %

Shares of SHOP opened at $96.78 on Tuesday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The firm’s fifty day simple moving average is $110.53 and its 200-day simple moving average is $98.94. The firm has a market capitalization of $125.31 billion, a price-to-earnings ratio of 62.44, a PEG ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted 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 net margin of 22.74% and a return on equity of 12.00%. On average, analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SHOP. ATB Capital increased their price target on shares of Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Canaccord Genuity Group increased their price target on shares of Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Piper Sandler increased their price target on shares of Shopify from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. UBS Group increased their price target on shares of Shopify from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $120.00 price objective on shares of Shopify in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Shopify presently has an average rating of “Moderate Buy” and an average target price of $126.31.

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.