Sepio Capital LP Trims Stake in Shopify Inc. (NYSE:SHOP)

Sepio Capital LP trimmed its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 14.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,986 shares of the software maker’s stock after selling 6,806 shares during the quarter. Sepio Capital LP’s holdings in Shopify were worth $3,037,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SHOP. Objectivity Squared LLC bought a new stake in shares of Shopify in the 4th quarter valued at about $343,000. Orion Portfolio Solutions LLC lifted its stake in shares of Shopify by 51.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 37,272 shares of the software maker’s stock valued at $2,896,000 after acquiring an additional 12,704 shares during the last quarter. TBH Global Asset Management LLC bought a new stake in shares of Shopify in the 4th quarter valued at about $308,000. Avantax Planning Partners Inc. bought a new stake in shares of Shopify in the 4th quarter valued at about $342,000. Finally, TCW Group Inc. lifted its stake in shares of Shopify by 8.5% in the 4th quarter. TCW Group Inc. now owns 99,302 shares of the software maker’s stock valued at $7,736,000 after acquiring an additional 7,815 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Performance

SHOP traded down $0.68 during midday trading on Friday, hitting $56.96. 8,510,431 shares of the company were exchanged, compared to its average volume of 10,420,188. The company’s 50 day simple moving average is $70.67 and its 200 day simple moving average is $74.14. The firm has a market capitalization of $73.40 billion, a price-to-earnings ratio of -337.88, a price-to-earnings-growth ratio of 2.68 and a beta of 2.20. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.10. Shopify Inc. has a 1-year low of $45.50 and a 1-year high of $91.57.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SHOP. National Bankshares boosted their target price on Shopify from $80.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Shopify in a research report on Thursday, May 9th. ATB Capital upped their price target on Shopify from $105.00 to $110.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 14th. Loop Capital lowered their price target on Shopify from $90.00 to $80.00 and set a “hold” rating for the company in a research report on Monday, April 15th. Finally, Mizuho lowered their price target on Shopify from $75.00 to $65.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.06.

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.