Burns J W & Co. Inc. NY Sells 350 Shares of Shopify Inc. (NYSE:SHOP)

Burns J W & Co. Inc. NY decreased its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 10.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,850 shares of the software maker’s stock after selling 350 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in Shopify were worth $303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Baillie Gifford & Co. lifted its position in Shopify by 14.7% in the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after purchasing an additional 8,131,160 shares during the last quarter. FMR LLC increased its position in shares of Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after acquiring an additional 5,869,795 shares during the period. Mackenzie Financial Corp raised its stake in shares of Shopify by 49.9% during the second quarter. Mackenzie Financial Corp now owns 6,315,028 shares of the software maker’s stock valued at $417,386,000 after acquiring an additional 2,102,939 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Shopify by 54.2% during the second quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock worth $311,404,000 after purchasing an additional 1,657,251 shares during the period. Finally, National Bank of Canada FI increased its holdings in Shopify by 28.0% during the 3rd quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after purchasing an additional 1,621,981 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Piper Sandler lifted their price objective on Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. JMP Securities reaffirmed a “market outperform” rating and set a $120.00 target price on shares of Shopify in a research note on Thursday, December 12th. Loop Capital raised Shopify from a “hold” rating to a “buy” rating and boosted their target price for the stock from $110.00 to $140.00 in a report on Friday, December 6th. The Goldman Sachs Group raised their price objective on shares of Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada increased their price target on shares of Shopify from $100.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $100.31.

Shopify Stock Down 2.0 %

Shares of NYSE SHOP traded down $2.04 during trading hours on Monday, hitting $101.67. 7,907,303 shares of the stock were exchanged, compared to its average volume of 6,097,775. The company has a market cap of $131.37 billion, a PE ratio of 95.02, a PEG ratio of 2.98 and a beta of 2.46. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $120.72. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The firm has a fifty day moving average price of $107.35 and a 200-day moving average price of $84.54.

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.