Commerzbank Aktiengesellschaft FI Lowers Stock Holdings in Shopify Inc (NYSE:SHOP)

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Commerzbank Aktiengesellschaft FI lowered its stake in shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 10.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 114,975 shares of the software maker’s stock after selling 13,133 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Shopify were worth $45,712,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. UBS Asset Management Americas Inc. lifted its position in Shopify by 0.7% in the second quarter. UBS Asset Management Americas Inc. now owns 4,190 shares of the software maker’s stock valued at $1,258,000 after purchasing an additional 30 shares during the period. Gradient Investments LLC lifted its position in shares of Shopify by 32.2% during the 4th quarter. Gradient Investments LLC now owns 160 shares of the software maker’s stock valued at $64,000 after acquiring an additional 39 shares during the period. Truewealth LLC lifted its position in shares of Shopify by 16.0% during the 3rd quarter. Truewealth LLC now owns 348 shares of the software maker’s stock valued at $108,000 after acquiring an additional 48 shares during the period. Intersect Capital LLC lifted its position in shares of Shopify by 5.3% during the 3rd quarter. Intersect Capital LLC now owns 1,000 shares of the software maker’s stock valued at $312,000 after acquiring an additional 50 shares during the period. Finally, IFP Advisors Inc lifted its position in shares of Shopify by 6.7% during the 4th quarter. IFP Advisors Inc now owns 862 shares of the software maker’s stock valued at $349,000 after acquiring an additional 54 shares during the period. Hedge funds and other institutional investors own 57.33% of the company’s stock.

A number of research firms have recently issued reports on SHOP. ValuEngine downgraded shares of Shopify from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Rosenblatt Securities reiterated a “buy” rating and set a $481.00 price target on shares of Shopify in a research report on Wednesday, October 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $400.00 price target on shares of Shopify in a research report on Monday, October 28th. CIBC set a $350.00 price target on shares of Shopify and gave the company a “hold” rating in a research report on Tuesday, October 8th. Finally, National Bank Financial lifted their price target on shares of Shopify from $400.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $346.18.

SHOP stock traded up $3.51 during midday trading on Friday, hitting $454.81. The stock had a trading volume of 125,986 shares, compared to its average volume of 1,585,553. The firm has a market cap of $50.89 billion, a PE ratio of -745.70 and a beta of 1.21. The company has a debt-to-equity ratio of 0.04, a current ratio of 11.21 and a quick ratio of 11.21. Shopify Inc has a 12-month low of $154.10 and a 12-month high of $453.78. The company’s 50-day moving average price is $392.44 and its 200 day moving average price is $347.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, October 29th. The software maker reported ($0.20) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.08. The firm had revenue of $390.55 million during the quarter, compared to analysts’ expectations of $384.05 million. Shopify had a negative net margin of 8.97% and a negative return on equity of 3.36%. As a group, sell-side analysts anticipate that Shopify Inc will post -1.25 EPS for the current year.

About Shopify

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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