China Universal Asset Management Co. Ltd. Sells 7,800 Shares of Shopify Inc. (NYSE:SHOP)

China Universal Asset Management Co. Ltd. reduced its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 23.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,500 shares of the software maker’s stock after selling 7,800 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Shopify were worth $2,711,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Total Clarity Wealth Management Inc. boosted its holdings in shares of Shopify by 12.6% in the 4th quarter. Total Clarity Wealth Management Inc. now owns 5,057 shares of the software maker’s stock worth $538,000 after acquiring an additional 564 shares in the last quarter. Austin Private Wealth LLC bought a new stake in shares of Shopify during the 4th quarter valued at $238,000. GFS Advisors LLC acquired a new stake in shares of Shopify during the fourth quarter worth $327,000. Caprock Group LLC increased its holdings in Shopify by 13.5% in the fourth quarter. Caprock Group LLC now owns 17,303 shares of the software maker’s stock valued at $1,840,000 after purchasing an additional 2,055 shares during the last quarter. Finally, Saxony Capital Management LLC bought a new position in Shopify during the fourth quarter worth about $345,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Down 2.1 %

Shares of NYSE:SHOP opened at $116.70 on Friday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $122.00. The company has a market capitalization of $150.79 billion, a PE ratio of 109.07, a price-to-earnings-growth ratio of 2.45 and a beta of 2.46. The business has a fifty day moving average price of $110.36 and a two-hundred day moving average price of $88.67. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10.

Analysts Set New Price Targets

A number of analysts recently commented on SHOP shares. Moffett Nathanson upped their price objective on shares of Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. JMP Securities reaffirmed a “market outperform” rating and set a $120.00 price target on shares of Shopify in a research report on Thursday, December 12th. Oppenheimer raised their price objective on Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, Truist Financial raised their price objective on shares of Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $100.32.

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.