Gilder Gagnon Howe & Co. LLC Reduces Stock Holdings in Shopify Inc. (NYSE:SHOP)

Gilder Gagnon Howe & Co. LLC reduced its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,503,681 shares of the software maker's stock after selling 85,089 shares during the quarter. Shopify comprises approximately 1.7% of Gilder Gagnon Howe & Co. LLC's portfolio, making the stock its 12th biggest holding. Gilder Gagnon Howe & Co. LLC owned approximately 0.12% of Shopify worth $159,886,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Allianz SE purchased a new position in shares of Shopify during the fourth quarter worth approximately $27,000. PFG Private Wealth Management LLC grew its holdings in shares of Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock worth $28,000 after purchasing an additional 256 shares during the last quarter. Mark Sheptoff Financial Planning LLC grew its holdings 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 purchasing an additional 100 shares during the last quarter. New Wave Wealth Advisors LLC bought a new stake in Shopify in the fourth quarter valued at $39,000. Finally, Mather Group LLC. boosted its holdings in Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker's stock valued at $43,000 after acquiring an additional 184 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SHOP shares. ATB Capital raised their target price on shares of Shopify from $145.00 to $170.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 12th. Evercore ISI raised their price target on shares of Shopify from $125.00 to $140.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Phillip Securities downgraded shares of Shopify from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, February 17th. The Goldman Sachs Group reduced their price target 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. Finally, Wedbush reissued an "outperform" rating and set a $110.00 price target on shares of Shopify in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned 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 a consensus price target of $118.14.

Shopify Stock Performance

SHOP traded down $3.93 during trading on Wednesday, hitting $94.99. 12,273,250 shares of the stock were exchanged, compared to its average volume of 9,274,188. The firm has a 50 day simple moving average of $95.72 and a 200 day simple moving average of $102.14. The firm has a market cap of $123.00 billion, a price-to-earnings ratio of 61.28, a P/E/G ratio of 4.82 and a beta of 2.82. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (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 anticipate 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.