Wellington Shields Capital Management LLC Sells 300 Shares of Shopify Inc. (NYSE:SHOP)

Wellington Shields Capital Management LLC lessened its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,200 shares of the software maker’s stock after selling 300 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Shopify were worth $1,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Howland Capital Management LLC lifted its stake in shares of Shopify by 2.0% during the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock valued at $526,000 after buying an additional 99 shares in the last quarter. Trust Co. of Vermont raised its holdings in Shopify by 9.9% during the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after acquiring an additional 100 shares during the period. First United Bank & Trust lifted its position in shares of Shopify by 2.2% in the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock valued at $488,000 after acquiring an additional 100 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in shares of Shopify by 0.7% in the third quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock worth $1,162,000 after acquiring an additional 105 shares during the period. Finally, Redhawk Wealth Advisors Inc. grew its position in shares of Shopify by 3.3% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock worth $357,000 after purchasing an additional 107 shares in the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Down 6.2 %

NYSE:SHOP opened at $90.51 on Friday. The company has a market cap of $117.19 billion, a P/E ratio of 58.39, a P/E/G ratio of 4.82 and a beta of 2.60. The firm’s 50 day moving average is $111.17 and its two-hundred day moving average is $98.29. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its 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%. Research analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SHOP has been the subject of a number of research analyst reports. Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and increased their price objective for the company from $110.00 to $140.00 in a report on Friday, December 6th. Citigroup upped their target price on shares of Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Phillip Securities downgraded shares of Shopify from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, February 17th. Moffett Nathanson increased their price objective on shares of Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Finally, New Street Research initiated coverage on Shopify in a report on Friday, January 10th. They issued a “neutral” rating and a $115.00 target price on the stock. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $126.31.

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.