Trillium Asset Management LLC Sells 56,182 Shares of Shopify Inc. $SHOP

Trillium Asset Management LLC trimmed its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 28.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 140,147 shares of the software maker’s stock after selling 56,182 shares during the quarter. Trillium Asset Management LLC’s holdings in Shopify were worth $22,711,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. First Affirmative Financial Network increased its position in Shopify by 3.4% during the 3rd quarter. First Affirmative Financial Network now owns 2,275 shares of the software maker’s stock worth $338,000 after buying an additional 75 shares during the period. TBH Global Asset Management LLC increased its position in Shopify by 1.2% during the 4th quarter. TBH Global Asset Management LLC now owns 6,438 shares of the software maker’s stock worth $1,036,000 after buying an additional 75 shares during the period. Smartleaf Asset Management LLC increased its position in Shopify by 13.9% during the 2nd quarter. Smartleaf Asset Management LLC now owns 631 shares of the software maker’s stock worth $72,000 after buying an additional 77 shares during the period. Dynamic Advisor Solutions LLC increased its position in Shopify by 2.6% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 3,164 shares of the software maker’s stock worth $509,000 after buying an additional 80 shares during the period. Finally, Pacific Sage Partners LLC increased its position in Shopify by 3.9% during the 4th quarter. Pacific Sage Partners LLC now owns 2,133 shares of the software maker’s stock worth $343,000 after buying an additional 80 shares during the period. 69.27% of the stock is owned by institutional investors.

Shopify Stock Performance

Shares of NASDAQ SHOP opened at $108.24 on Friday. Shopify Inc. has a 52 week low of $94.00 and a 52 week high of $182.19. The stock has a market capitalization of $140.46 billion, a P/E ratio of 107.17, a PEG ratio of 3.10 and a beta of 2.60. The stock’s fifty day moving average is $113.99 and its 200 day moving average is $131.61.

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

Analysts Set New Price Targets

SHOP has been the topic of several recent research reports. UBS Group reiterated a “neutral” rating on shares of Shopify in a research report on Thursday, May 28th. Phillip Securities upgraded Shopify from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Canaccord Genuity Group decreased their price target on Shopify from $165.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Jefferies Financial Group restated a “hold” rating and issued a $140.00 price target (down from $150.00) on shares of Shopify in a research report on Tuesday, May 5th. Finally, Piper Sandler restated an “overweight” rating and issued a $150.00 price target (down from $165.00) on shares of Shopify in a research report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $157.17.

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.