O Dell Group LLC Lowers Holdings in Shopify Inc. (NYSE:SHOP)

O Dell Group LLC cut its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 9.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,974 shares of the software maker’s stock after selling 799 shares during the period. O Dell Group LLC’s holdings in Shopify were worth $848,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Baillie Gifford & Co. raised its holdings in shares of Shopify by 14.7% during the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after acquiring an additional 8,131,160 shares in the last quarter. FMR LLC raised its holdings in shares of Shopify by 16.1% during the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after acquiring an additional 5,869,795 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Shopify by 6.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker’s stock worth $658,248,000 after acquiring an additional 484,561 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of Shopify by 28.0% during the 3rd quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock worth $593,588,000 after acquiring an additional 1,621,981 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Shopify by 9.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker’s stock worth $432,573,000 after acquiring an additional 471,280 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SHOP has been the topic of several recent research reports. The Goldman Sachs Group increased their price target on Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Canaccord Genuity Group increased their price target on Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Phillip Securities lowered Shopify from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, February 17th. Truist Financial increased their price target on Shopify from $110.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. Finally, Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and increased their price target for the company from $110.00 to $140.00 in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Performance

Shopify stock opened at $92.49 on Tuesday. The stock has a 50-day moving average of $111.97 and a two-hundred day moving average of $98.24. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38. The stock has a market cap of $119.76 billion, a PE ratio of 59.67, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results 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 net margin of 22.74% and a return on equity of 12.00%. As a group, sell-side analysts predict that Shopify Inc. will post 1.12 EPS for the current fiscal year.

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.