Triumph Capital Management Sells 4,230 Shares of Shopify Inc. (NYSE:SHOP)

Triumph Capital Management cut its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 42.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,695 shares of the software maker's stock after selling 4,230 shares during the quarter. Triumph Capital Management's holdings in Shopify were worth $606,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allianz SE acquired a new position in Shopify in the 4th quarter valued at approximately $27,000. PFG Private Wealth Management LLC increased its position in shares of Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock valued at $28,000 after purchasing an additional 256 shares during the period. Mark Sheptoff Financial Planning LLC raised its stake 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 valued at $32,000 after purchasing an additional 100 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new stake in Shopify during the fourth quarter worth $39,000. Finally, Mather Group LLC. increased its holdings in Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker's stock valued at $43,000 after buying an additional 184 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Loop Capital lowered their target price on shares of Shopify from $150.00 to $120.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Mizuho dropped their price objective on Shopify from $110.00 to $85.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. UBS Group boosted their target price on shares of Shopify from $110.00 to $125.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. increased their target price on shares of Shopify from $121.00 to $124.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Finally, Scotiabank decreased their price objective on shares of Shopify from $120.00 to $90.00 and set a "sector perform" rating on the stock in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Shopify presently has an average rating of "Moderate Buy" and an average price target of $118.14.

Shopify Trading Up 2.3 %

Shares of NYSE:SHOP traded up $2.24 during trading on Friday, hitting $99.25. 11,137,325 shares of the company were exchanged, compared to its average volume of 9,313,546. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The stock has a market cap of $128.51 billion, a price-to-earnings ratio of 64.03, a P/E/G ratio of 4.82 and a beta of 2.66. The firm has a fifty day moving average price of $94.71 and a two-hundred day moving average price of $102.44.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. As a group, research analysts predict that Shopify Inc. will post 1.12 EPS for the current year.

Shopify 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.