Mmbg Investment Advisors CO. Trims Stock Position in Shopify Inc. (NYSE:SHOP)

Mmbg Investment Advisors CO. lowered its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 111,895 shares of the software maker’s stock after selling 435 shares during the quarter. Shopify comprises approximately 1.3% of Mmbg Investment Advisors CO.’s holdings, making the stock its 19th largest holding. Mmbg Investment Advisors CO.’s holdings in Shopify were worth $11,898,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. LRI Investments LLC lifted its position in Shopify by 9.8% in the 4th quarter. LRI Investments LLC now owns 889 shares of the software maker’s stock valued at $94,000 after purchasing an additional 79 shares during the last quarter. Tidemark LLC increased its stake in Shopify by 3.6% in the 4th quarter. Tidemark LLC now owns 2,592 shares of the software maker’s stock worth $276,000 after purchasing an additional 90 shares in the last quarter. Howland Capital Management LLC raised its holdings in shares of Shopify by 2.0% during the fourth quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock valued at $526,000 after acquiring an additional 99 shares during the period. Trust Co. of Vermont boosted its position in shares of Shopify by 9.9% in the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock worth $118,000 after buying an additional 100 shares during the period. Finally, First United Bank & Trust increased its holdings in shares of Shopify by 2.2% in the 4th 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. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Down 2.4%

Shopify stock opened at $91.77 on Monday. The stock has a market cap of $118.83 billion, a PE ratio of 59.21, a P/E/G ratio of 4.82 and a beta of 2.66. The business’s 50-day moving average price is $93.29 and its two-hundred day moving average price is $103.05. 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 quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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%. As a group, analysts expect that Shopify Inc. will post 1.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. National Bankshares dropped their price objective on shares of Shopify from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Piper Sandler upped their price target on shares of Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Jefferies Financial Group lowered their target price on Shopify from $130.00 to $110.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. UBS Group cut their price target on Shopify from $125.00 to $110.00 and set a “neutral” rating for the company in a research note on Friday. Finally, JPMorgan Chase & Co. lowered their price target on Shopify from $124.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $115.37.

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.