Parkwood LLC Sells 10,296 Shares of Shopify Inc. (NYSE:SHOP)

Parkwood LLC lowered its holdings in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 9.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,762 shares of the software maker's stock after selling 10,296 shares during the period. Parkwood LLC's holdings in Shopify were worth $10,501,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Allianz SE acquired a new position in shares of Shopify during the fourth quarter valued at $27,000. PFG Private Wealth Management LLC grew its position in Shopify by 3,657.1% in the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock valued at $28,000 after buying an additional 256 shares in the last quarter. Mark Sheptoff Financial Planning LLC increased its stake 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 buying an additional 100 shares during the period. New Wave Wealth Advisors LLC bought a new stake in shares of Shopify during the 4th quarter worth about $39,000. Finally, Mather Group LLC. lifted its stake in shares of Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker's stock worth $43,000 after acquiring an additional 184 shares during the period. Institutional investors own 69.27% of the company's stock.

Shopify Stock Up 0.5%

Shares of NYSE:SHOP traded up $0.54 on Friday, reaching $110.75. The company had a trading volume of 96,037,521 shares, compared to its average volume of 9,569,946. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The stock has a 50-day moving average price of $94.30 and a 200 day moving average price of $103.73. The stock has a market capitalization of $143.40 billion, a P/E ratio of 71.45, a P/E/G 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 return on equity of 12.00% and a net margin of 22.74%. On average, sell-side analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SHOP shares. BMO Capital Markets started coverage on Shopify in a research note on Tuesday, May 6th. They set an "outperform" rating and a $120.00 price target for the company. Wedbush reaffirmed an "outperform" rating and set a $110.00 price target on shares of Shopify in a research note on Tuesday, April 15th. Loop Capital decreased their price target on Shopify from $150.00 to $120.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. TD Securities increased their price target on Shopify from $100.00 to $130.00 and gave the company a "hold" rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. decreased their price target on Shopify from $124.00 to $115.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $115.37.

Shopify Company 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.