AEGON ASSET MANAGEMENT UK Plc Sells 16,229 Shares of Shopify Inc. (NYSE:SHOP)

AEGON ASSET MANAGEMENT UK Plc trimmed its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 4.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 328,093 shares of the software maker's stock after selling 16,229 shares during the period. AEGON ASSET MANAGEMENT UK Plc's holdings in Shopify were worth $31,185,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. LRI Investments LLC increased its holdings in shares of Shopify by 9.8% during the 4th quarter. LRI Investments LLC now owns 889 shares of the software maker's stock worth $94,000 after purchasing an additional 79 shares during the period. Tidemark LLC grew its stake in shares of Shopify by 3.6% in the 4th quarter. Tidemark LLC now owns 2,592 shares of the software maker's stock valued at $276,000 after purchasing an additional 90 shares during the period. Howland Capital Management LLC raised its holdings in shares of Shopify by 2.0% in 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. Mark Sheptoff Financial Planning LLC lifted its position in shares of Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock worth $32,000 after buying an additional 100 shares during the period. Finally, Seven Mile Advisory boosted its stake in Shopify by 2.3% in the 4th quarter. Seven Mile Advisory now owns 5,068 shares of the software maker's stock valued at $539,000 after buying an additional 114 shares in the last quarter. Institutional investors own 69.27% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SHOP. KeyCorp lowered their target price on shares of Shopify from $140.00 to $105.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Citigroup boosted their target price on shares of Shopify from $143.00 to $175.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. National Bankshares reduced their price target on shares of Shopify from $140.00 to $120.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Wedbush restated an "outperform" rating and issued a $110.00 price objective on shares of Shopify in a research report on Tuesday, April 15th. Finally, TD Securities lifted their target price on Shopify from $100.00 to $130.00 and gave the stock a "hold" rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $115.37.

Shopify Price Performance

Shares of SHOP stock traded down $1.53 on Wednesday, hitting $103.58. 7,457,683 shares of the company's stock were exchanged, compared to its average volume of 9,407,924. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The company has a 50 day moving average of $95.41 and a 200 day moving average of $105.02. The stock has a market cap of $134.12 billion, a P/E ratio of 66.83, a price-to-earnings-growth ratio of 4.82 and a beta of 2.66.

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.