Shopify Inc. (NYSE:SHOP) Shares Sold by Financial Counselors Inc.

Financial Counselors Inc. reduced its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 11.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 76,726 shares of the software maker’s stock after selling 9,968 shares during the period. Financial Counselors Inc.’s holdings in Shopify were worth $6,149,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Swiss National Bank grew its holdings in Shopify by 0.9% in the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock valued at $293,507,000 after purchasing an additional 33,300 shares during the period. Oppenheimer & Co. Inc. grew its holdings in Shopify by 26.4% in the third quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock valued at $2,693,000 after purchasing an additional 7,027 shares during the period. Nations Financial Group Inc. IA ADV grew its holdings in Shopify by 4.6% in the third quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker’s stock valued at $381,000 after purchasing an additional 209 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Shopify by 6.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,416,436 shares of the software maker’s stock valued at $193,802,000 after acquiring an additional 136,530 shares in the last quarter. Finally, Baker Avenue Asset Management LP lifted its position in shares of Shopify by 10.9% in the third quarter. Baker Avenue Asset Management LP now owns 217,000 shares of the software maker’s stock valued at $17,390,000 after acquiring an additional 21,265 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SHOP. Robert W. Baird raised their target price on Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Roth Mkm raised their target price on Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Redburn Atlantic upgraded Shopify from a “neutral” rating to a “buy” rating and set a $99.00 target price on the stock in a research report on Tuesday, September 17th. Evercore ISI raised their target price on Shopify from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, Wells Fargo & Company raised their target price on Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.84.

Shopify Trading Up 0.4 %

NYSE:SHOP opened at $112.54 on Friday. The stock has a 50-day simple moving average of $88.42 and a 200-day simple moving average of $73.45. The stock has a market cap of $145.41 billion, a P/E ratio of 105.18, a P/E/G ratio of 2.96 and a beta of 2.36. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $115.62. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10.

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.