Aquatic Capital Management LLC Has $25.88 Million Stock Holdings in Shopify Inc. (NYSE:SHOP)

Aquatic Capital Management LLC trimmed its stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 31.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 243,401 shares of the software maker's stock after selling 113,899 shares during the period. Shopify comprises about 0.7% of Aquatic Capital Management LLC's portfolio, making the stock its 26th largest position. Aquatic Capital Management LLC's holdings in Shopify were worth $25,881,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. grew its position in shares of Shopify by 19.0% in the 4th quarter. Coldstream Capital Management Inc. now owns 4,927 shares of the software maker's stock valued at $524,000 after acquiring an additional 787 shares during the period. Three Seasons Wealth LLC acquired a new stake in shares of Shopify in the fourth quarter valued at approximately $1,723,000. Nebula Research & Development LLC bought a new position in shares of Shopify during the 4th quarter worth approximately $827,000. Kovitz Investment Group Partners LLC acquired a new position in shares of Shopify during the 4th quarter worth approximately $371,000. Finally, Stonebridge Capital Advisors LLC bought a new stake in Shopify in the 4th quarter valued at $215,000. Institutional investors own 69.27% of the company's stock.

Analyst Ratings Changes

SHOP has been the topic of several research reports. Canaccord Genuity Group upped their price objective on shares of Shopify from $125.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Barclays upped their price target on shares of Shopify from $93.00 to $100.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 12th. Truist Financial raised their price objective on shares of Shopify from $110.00 to $120.00 and gave the stock a "hold" rating in a research report on Wednesday, February 12th. Royal Bank of Canada decreased their target price on Shopify from $145.00 to $125.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Finally, Mizuho dropped their price target on Shopify from $110.00 to $85.00 and set a "neutral" rating for the company in a report on Monday, April 14th. One investment 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 assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $118.14.

Shopify Price Performance

NYSE SHOP traded down $3.92 on Wednesday, reaching $95.00. The company had a trading volume of 13,210,013 shares, compared to its average volume of 10,087,605. The firm has a market cap of $123.01 billion, a price-to-earnings ratio of 61.29, a P/E/G ratio of 4.82 and a beta of 2.82. The business has a 50 day moving average of $95.72 and a two-hundred day moving average of $102.14. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38.

Shopify (NYSE:SHOP - Get Free Report) 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, research analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

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.