Tortoise Investment Management LLC Sells 400 Shares of Shopify Inc. (NYSE:SHOP)

Tortoise Investment Management LLC cut its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 22.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,402 shares of the software maker’s stock after selling 400 shares during the quarter. Tortoise Investment Management LLC’s holdings in Shopify were worth $109,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Private Wealth Management Group LLC acquired a new position in shares of Shopify during the 4th quarter worth approximately $26,000. SJS Investment Consulting Inc. increased its holdings in shares of Shopify by 59.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after acquiring an additional 130 shares during the last quarter. DSM Capital Partners LLC acquired a new position in shares of Shopify during the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp acquired a new position in shares of Shopify during the 4th quarter worth approximately $28,000. Finally, Your Advocates Ltd. LLP increased its holdings in shares of Shopify by 4,344.4% during the 4th quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock worth $31,000 after acquiring an additional 391 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Up 4.6 %

NYSE:SHOP traded up $2.97 on Friday, hitting $67.66. The stock had a trading volume of 17,915,785 shares, compared to its average volume of 10,220,850. The business’s fifty day moving average is $65.35 and its 200 day moving average is $73.55. The company has a market cap of $87.19 billion, a PE ratio of -398.03, a P/E/G ratio of 3.27 and a beta of 2.27. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.10. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Wednesday, May 8th. The software maker reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.84 billion. On average, equities research analysts expect that Shopify Inc. will post 0.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft decreased their target price on Shopify from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. CIBC reduced their price target on Shopify from $100.00 to $85.00 and set an “outperformer” rating for the company in a research note on Thursday, May 9th. StockNews.com upgraded Shopify from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. JMP Securities upgraded Shopify from a “market perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research note on Thursday, May 9th. Finally, Barclays reduced their price target on Shopify from $68.00 to $63.00 and set an “equal weight” rating for the company in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $76.49.

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.