Knights of Columbus Asset Advisors LLC Cuts Holdings in Shopify Inc. $SHOP

Knights of Columbus Asset Advisors LLC decreased its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 17.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,955 shares of the software maker’s stock after selling 4,700 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Shopify were worth $3,700,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Moloney Securities Asset Management LLC increased its holdings in Shopify by 1.8% in the third quarter. Moloney Securities Asset Management LLC now owns 3,951 shares of the software maker’s stock valued at $587,000 after buying an additional 70 shares in the last quarter. Seros Financial LLC increased its holdings in Shopify by 2.7% in the third quarter. Seros Financial LLC now owns 2,856 shares of the software maker’s stock valued at $424,000 after buying an additional 75 shares in the last quarter. First Affirmative Financial Network grew its position in shares of Shopify by 3.4% in the third quarter. First Affirmative Financial Network now owns 2,275 shares of the software maker’s stock valued at $338,000 after purchasing an additional 75 shares during the period. TBH Global Asset Management LLC grew its position in shares of Shopify by 1.2% in the fourth quarter. TBH Global Asset Management LLC now owns 6,438 shares of the software maker’s stock valued at $1,036,000 after purchasing an additional 75 shares during the period. Finally, Strategic Advisors LLC grew its position in shares of Shopify by 0.3% in the third quarter. Strategic Advisors LLC now owns 28,785 shares of the software maker’s stock valued at $4,278,000 after purchasing an additional 76 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

SHOP has been the topic of several research analyst reports. Citigroup dropped their target price on shares of Shopify from $163.00 to $156.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. TD Cowen upgraded shares of Shopify from a “hold” rating to a “buy” rating and set a $159.00 target price on the stock in a research report on Wednesday, February 11th. Canaccord Genuity Group dropped their target price on shares of Shopify from $165.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Wedbush dropped their target price on shares of Shopify from $185.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, February 12th. Finally, ATB Cormark Capital Markets upgraded shares of Shopify from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, February 10th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $157.17.

Shopify Trading Up 1.6%

SHOP opened at $106.60 on Thursday. The firm has a market capitalization of $138.33 billion, a PE ratio of 105.55, a PEG ratio of 2.94 and a beta of 2.64. Shopify Inc. has a twelve month low of $94.00 and a twelve month high of $182.19. The firm’s 50-day moving average price is $115.07 and its 200 day moving average price is $134.43.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $998.78. The firm had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.08 billion. Shopify had a net margin of 10.77% and a return on equity of 12.07%. As a group, analysts predict that Shopify Inc. will post 1.36 earnings per share for the current fiscal year.

Shopify Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.