Shopify Inc. (NYSE:SHOP) Shares Sold by Carnegie Capital Asset Management LLC

Carnegie Capital Asset Management LLC trimmed its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 12.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 124,145 shares of the software maker's stock after selling 17,242 shares during the quarter. Carnegie Capital Asset Management LLC's holdings in Shopify were worth $9,671,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SHOP. SJS Investment Consulting Inc. lifted its holdings in shares of Shopify by 59.1% in the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker's stock valued at $27,000 after purchasing an additional 130 shares in the last quarter. PCA Investment Advisory Services Inc. bought a new position in shares of Shopify in the second quarter valued at approximately $27,000. Baldwin Brothers LLC MA lifted its holdings in shares of Shopify by 49.0% in the fourth quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker's stock valued at $35,000 after purchasing an additional 147 shares in the last quarter. Global Trust Asset Management LLC lifted its holdings in shares of Shopify by 350.0% in the fourth quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker's stock valued at $35,000 after purchasing an additional 350 shares in the last quarter. Finally, Vestor Capital LLC bought a new position in shares of Shopify in the second quarter valued at approximately $35,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. ATB Capital raised their target price on Shopify from $105.00 to $110.00 and gave the company a "sector perform" rating in a report on Wednesday, February 14th. CIBC lifted their price target on Shopify from $82.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, February 7th. Jefferies Financial Group lifted their price target on Shopify from $65.00 to $80.00 and gave the stock a "hold" rating in a report on Friday, January 5th. JMP Securities reiterated a "market perform" rating on shares of Shopify in a report on Monday, December 18th. Finally, National Bankshares raised their target price on Shopify from $80.00 to $100.00 and gave the stock an "outperform" rating in a research report on Friday, January 26th. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Shopify currently has a consensus rating of "Hold" and a consensus price target of $77.38.

Shopify Trading Down 2.2 %

SHOP stock traded down $1.57 during trading on Friday, hitting $70.00. 11,042,554 shares of the company traded hands, compared to its average volume of 6,341,646. The firm has a market capitalization of $90.06 billion, a PE ratio of 777.86 and a beta of 2.22. Shopify Inc. has a 1 year low of $45.11 and a 1 year high of $91.57. The company has a 50-day moving average of $77.97 and a 200-day moving average of $71.56. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04. The company had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. Analysts predict that Shopify Inc. will post 0.57 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.