Shopify Inc. (NYSE:SHOP) Shares Sold by Bayesian Capital Management LP

Bayesian Capital Management LP lessened its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 85.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,600 shares of the software maker's stock after selling 61,578 shares during the period. Bayesian Capital Management LP's holdings in Shopify were worth $1,127,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Tidemark LLC raised its position 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 acquiring an additional 90 shares during the period. Howland Capital Management LLC increased its stake in 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 in the last quarter. Trust Co. of Vermont raised its holdings in shares of Shopify by 9.9% during the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker's stock valued at $118,000 after acquiring an additional 100 shares during the last quarter. First United Bank & Trust lifted its position in shares of 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 acquiring an additional 100 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC boosted its stake in shares of Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock worth $32,000 after acquiring an additional 100 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SHOP shares. Scotiabank dropped their target price 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. Wells Fargo & Company increased their price objective on shares of Shopify from $120.00 to $135.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Barclays dropped their price target on Shopify from $100.00 to $94.00 and set an "equal weight" rating for the company in a research report on Friday. CIBC increased their price target on Shopify from $135.00 to $160.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Finally, Oppenheimer lowered their price objective on Shopify from $150.00 to $125.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. One investment 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 stock. According to MarketBeat, Shopify has an average rating of "Moderate Buy" and an average target price of $115.37.

Shopify Price Performance

Shares of SHOP stock traded down $2.23 during trading hours on Friday, hitting $91.77. The stock had a trading volume of 15,336,944 shares, compared to its average volume of 9,223,426. The stock's 50 day moving average is $93.29 and its 200 day moving average is $102.73. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The firm has a market capitalization of $118.83 billion, a PE ratio of 59.21, a PEG ratio of 4.82 and a beta of 2.66.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted 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 net margin of 22.74% and a return on equity of 12.00%. As a group, equities analysts predict that Shopify Inc. will post 1.12 earnings per share for the current 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.