Bryn Mawr Capital Management LLC Sells 543 Shares of Shopify Inc. (NYSE:SHOP)

Bryn Mawr Capital Management LLC trimmed its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,584 shares of the software maker’s stock after selling 543 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Shopify were worth $1,202,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Allianz SE acquired a new position in Shopify in the fourth quarter valued at approximately $27,000. Fourth Dimension Wealth LLC acquired a new position in Shopify in the fourth quarter valued at approximately $30,000. Mark Sheptoff Financial Planning LLC lifted 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 buying an additional 100 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in Shopify in the fourth quarter valued at approximately $46,000. Finally, FWL Investment Management LLC acquired a new position in Shopify in the fourth quarter valued at approximately $56,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

NYSE SHOP opened at $115.05 on Wednesday. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The firm has a 50-day moving average of $108.65 and a 200-day moving average of $105.00. The stock has a market cap of $149.26 billion, a PE ratio of 74.23, a P/E/G ratio of 4.82 and a beta of 2.61.

Analysts Set New Price Targets

SHOP has been the topic of several analyst reports. Robert W. Baird increased their price objective on shares of Shopify from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Monday. Royal Bank Of Canada cut their target price on shares of Shopify from $145.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, April 17th. Atb Cap Markets upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 8th. BNP Paribas lowered shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Monday, May 5th. Finally, The Goldman Sachs Group lowered their price objective on shares of Shopify from $150.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Shopify has an average rating of “Moderate Buy” and an average price target of $115.63.

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.