Bamco Inc. NY Has $274.47 Million Stock Holdings in Shopify Inc. (NYSE:SHOP)

Bamco Inc. NY trimmed its holdings in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 5.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,581,257 shares of the software maker's stock after selling 139,224 shares during the period. Shopify makes up about 0.7% of Bamco Inc. NY's investment portfolio, making the stock its 27th biggest position. Bamco Inc. NY owned 0.20% of Shopify worth $274,465,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Tidemark LLC lifted its stake in Shopify by 3.6% during the fourth quarter. Tidemark LLC now owns 2,592 shares of the software maker's stock worth $276,000 after purchasing an additional 90 shares during the period. Howland Capital Management LLC lifted its position in shares of Shopify by 2.0% during the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker's stock worth $526,000 after buying an additional 99 shares during the period. Trust Co. of Vermont lifted its position in shares of Shopify by 9.9% during the 4th 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. First United Bank & Trust boosted its stake in 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 buying an additional 100 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC grew its position 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 acquiring an additional 100 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on SHOP shares. Morgan Stanley cut their price objective on Shopify from $144.00 to $106.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Scotiabank cut their price target on shares of Shopify from $120.00 to $90.00 and set a "sector perform" rating for the company in a report on Monday, April 28th. Robert W. Baird upped their price objective on shares of Shopify from $126.00 to $135.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Evercore ISI lifted their target price on shares of Shopify from $125.00 to $140.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Finally, CIBC increased their price target on Shopify from $135.00 to $160.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $118.14.

Shopify Trading Up 2.3 %

SHOP stock opened at $99.25 on Friday. The stock has a 50-day moving average price of $94.71 and a two-hundred day moving average price of $102.44. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The stock has a market cap of $128.51 billion, a PE ratio of 64.03, a price-to-earnings-growth ratio of 4.82 and a beta of 2.66.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its quarterly earnings data 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 return on equity of 12.00% and a net margin of 22.74%. On average, analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

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.

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