Bryn Mawr Capital Management LLC Has $622,000 Stake in Shopify Inc. (NYSE:SHOP)

Bryn Mawr Capital Management LLC decreased its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 56.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,854 shares of the software maker’s stock after selling 7,461 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Shopify were worth $622,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC acquired a new stake in shares of Shopify during the fourth quarter worth about $39,000. Mather Group LLC. raised its position in shares of Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after purchasing an additional 184 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Shopify during the third quarter worth about $33,000. Sierra Ocean LLC acquired a new stake in shares of Shopify during the fourth quarter worth about $46,000. Finally, Rosenberg Matthew Hamilton raised its position in shares of Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SHOP shares. KeyCorp raised their price target on Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Phillip Securities lowered Shopify from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, February 17th. CIBC increased their price objective on Shopify from $135.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Moffett Nathanson increased their price objective on Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Finally, Royal Bank of Canada increased their price objective on Shopify from $130.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Down 6.5 %

SHOP opened at $115.40 on Friday. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The stock has a market cap of $149.10 billion, a price-to-earnings ratio of 74.45, a PEG ratio of 4.98 and a beta of 2.47. The business has a 50 day moving average of $112.85 and a 200-day moving average of $95.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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, analysts expect that Shopify Inc. will post 1.12 earnings per share 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.