Intact Investment Management Inc. Sells 209,730 Shares of Shopify Inc. (NYSE:SHOP)

Intact Investment Management Inc. cut its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 36.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 370,005 shares of the software maker’s stock after selling 209,730 shares during the period. Shopify makes up about 1.2% of Intact Investment Management Inc.’s investment portfolio, making the stock its 27th largest position. Intact Investment Management Inc.’s holdings in Shopify were worth $28,807,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Management Partners LLC lifted its holdings in Shopify by 0.9% during the 4th quarter. Wealth Management Partners LLC now owns 13,922 shares of the software maker’s stock valued at $1,085,000 after purchasing an additional 126 shares during the last quarter. SJS Investment Consulting Inc. lifted its holdings in Shopify by 59.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after purchasing an additional 130 shares during the last quarter. Pachira Investments Inc. lifted its holdings in Shopify by 2.1% during the 4th quarter. Pachira Investments Inc. now owns 7,084 shares of the software maker’s stock valued at $552,000 after purchasing an additional 146 shares during the last quarter. Baldwin Brothers LLC MA lifted its holdings in shares of Shopify by 49.0% during the fourth quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock worth $35,000 after buying an additional 147 shares in the last quarter. Finally, Capital Advisors Inc. OK lifted its holdings in shares of Shopify by 1.7% during the fourth quarter. Capital Advisors Inc. OK now owns 9,283 shares of the software maker’s stock worth $723,000 after buying an additional 153 shares in the last quarter. 69.27% of the stock is owned by institutional investors.

Shopify Trading Up 1.1 %

Shares of NYSE:SHOP traded up $0.78 during midday trading on Friday, hitting $71.33. 4,611,766 shares of the stock were exchanged, compared to its average volume of 7,677,671. The stock has a market capitalization of $91.77 billion, a price-to-earnings ratio of 792.64 and a beta of 2.22. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99. The business’s 50-day moving average price is $75.28 and its 200 day moving average price is $72.50. Shopify Inc. has a 12 month low of $45.50 and a 12 month high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.04. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. Analysts predict that Shopify Inc. will post 0.58 earnings per share for the current year.

Analysts Set New Price Targets

SHOP has been the subject of a number of research reports. The Goldman Sachs Group lifted their target price on Shopify from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. BNP Paribas downgraded Shopify from a “neutral” rating to an “underperform” rating in a report on Thursday, January 18th. Robert W. Baird lifted their target price on Shopify from $85.00 to $87.00 and gave the stock an “outperform” rating in a report on Wednesday, April 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $100.00 price target on shares of Shopify in a research report on Wednesday, February 14th. Finally, Barclays decreased their price target on Shopify from $70.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 14th. Three equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $78.30.

Shopify Company Profile

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.