Shopify Inc. (NYSE:SHOP) Shares Sold by Nvwm LLC

Nvwm LLC decreased its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,059 shares of the software maker’s stock after selling 1,197 shares during the period. Nvwm LLC’s holdings in Shopify were worth $1,814,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Trust Co. of Vermont boosted its position in shares of Shopify by 9.9% in the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock worth $118,000 after buying an additional 100 shares during the period. First United Bank & Trust increased its holdings in Shopify by 2.2% during the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock worth $488,000 after purchasing an additional 100 shares during the last quarter. Sunbelt Securities Inc. boosted its stake in shares of Shopify by 0.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock valued at $1,162,000 after buying an additional 105 shares during the last quarter. Redhawk Wealth Advisors Inc. grew its position in shares of Shopify by 3.3% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock worth $357,000 after buying an additional 107 shares in the last quarter. Finally, Moser Wealth Advisors LLC raised its holdings in Shopify by 1.4% in the third quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock valued at $755,000 after acquiring an additional 128 shares in the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SHOP has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price objective on Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $130.00 price target on shares of Shopify in a report on Wednesday, January 22nd. Canaccord Genuity Group increased their price objective on Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Scotiabank lifted their target price on Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, October 24th. Finally, Wedbush upgraded shares of Shopify from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $115.00 to $125.00 in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Shopify has an average rating of “Moderate Buy” and an average price target of $100.32.

Shopify Stock Performance

Shares of SHOP stock opened at $119.31 on Wednesday. The stock has a 50-day moving average of $110.57 and a 200-day moving average of $89.73. Shopify Inc. has a one year low of $48.56 and a one year high of $122.00. The stock has a market cap of $154.16 billion, a PE ratio of 111.50, a price-to-earnings-growth ratio of 2.46 and a beta of 2.47. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10.

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.