FAS Wealth Partners Inc. Has $697,000 Holdings in Shopify Inc. (NYSE:SHOP)

FAS Wealth Partners Inc. cut its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 23.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,553 shares of the software maker’s stock after selling 1,960 shares during the period. FAS Wealth Partners Inc.’s holdings in Shopify were worth $697,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Tidemark LLC increased its holdings in Shopify by 3.6% in the fourth quarter. Tidemark LLC now owns 2,592 shares of the software maker’s stock valued at $276,000 after purchasing an additional 90 shares during the period. Howland Capital Management LLC increased its holdings in Shopify by 2.0% in the fourth quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock valued at $526,000 after purchasing an additional 99 shares during the period. Trust Co. of Vermont increased its holdings in Shopify by 9.9% in the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after purchasing an additional 100 shares during the period. First United Bank & Trust increased its holdings in Shopify by 2.2% in the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock valued at $488,000 after purchasing an additional 100 shares during the period. Finally, Mark Sheptoff Financial Planning LLC increased its holdings in Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after purchasing an additional 100 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Up 2.1 %

NYSE SHOP opened at $97.01 on Friday. The firm has a market cap of $125.61 billion, a P/E ratio of 62.59, a price-to-earnings-growth ratio of 4.82 and a beta of 2.82. The company’s 50 day moving average is $94.95 and its 200-day moving average is $102.18. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. Equities analysts expect that Shopify Inc. will post 1.12 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Scotiabank decreased their price objective on Shopify from $120.00 to $90.00 and set a “sector perform” rating for the company in a report on Monday. TD Securities upped their price target on shares of Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. Benchmark raised shares of Shopify from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research report on Monday, February 10th. Morgan Stanley cut their price target on shares of Shopify from $144.00 to $106.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Finally, Wedbush reaffirmed an “outperform” rating and set a $110.00 price target on shares of Shopify in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $118.14.

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.