JARISLOWSKY FRASER Ltd Trims Stock Holdings in Shopify Inc. (NYSE:SHOP)

JARISLOWSKY FRASER Ltd lowered its holdings in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 30.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,116,015 shares of the software maker's stock after selling 1,833,209 shares during the quarter. Shopify accounts for 2.6% of JARISLOWSKY FRASER Ltd's portfolio, making the stock its 12th biggest holding. JARISLOWSKY FRASER Ltd owned about 0.32% of Shopify worth $436,167,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SHOP. Tidemark LLC increased its stake in Shopify by 3.6% in the 4th quarter. Tidemark LLC now owns 2,592 shares of the software maker's stock worth $276,000 after buying an additional 90 shares during the period. Howland Capital Management LLC boosted its holdings in shares of Shopify by 2.0% in the fourth quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker's stock valued at $526,000 after purchasing an additional 99 shares during the period. Trust Co. of Vermont grew its stake in Shopify by 9.9% in the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker's stock worth $118,000 after purchasing an additional 100 shares in the last quarter. First United Bank & Trust increased its holdings in Shopify by 2.2% during the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker's stock worth $488,000 after purchasing an additional 100 shares during the period. Finally, Mark Sheptoff Financial Planning LLC raised its position in Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.

Shopify Price Performance

SHOP stock opened at $91.77 on Friday. The company has a market capitalization of $118.83 billion, a P/E ratio of 59.21, a price-to-earnings-growth ratio of 4.82 and a beta of 2.66. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The firm's fifty day simple moving average is $93.29 and its 200-day simple moving average is $102.89.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its 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, sell-side analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Scotiabank dropped their price target on Shopify from $120.00 to $90.00 and set a "sector perform" rating on the stock in a research report on Monday, April 28th. ATB Capital increased their target price on shares of Shopify from $145.00 to $170.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 12th. Wells Fargo & Company raised their target price on shares of Shopify from $120.00 to $135.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Loop Capital lowered their price target on shares of Shopify from $150.00 to $120.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Finally, CIBC lifted their price objective on shares of Shopify from $135.00 to $160.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $115.37.

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.

Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.