Shopify Inc. (NYSE:SHOP) Position Lessened by DRW Securities LLC

DRW Securities LLC lowered its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 32.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,076 shares of the software maker’s stock after selling 1,483 shares during the quarter. DRW Securities LLC’s holdings in Shopify were worth $247,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Shopify during the 3rd quarter valued at about $660,000. Douglass Winthrop Advisors LLC raised its position in Shopify by 3.1% during the third quarter. Douglass Winthrop Advisors LLC now owns 19,652 shares of the software maker’s stock valued at $1,575,000 after acquiring an additional 597 shares in the last quarter. Centaurus Financial Inc. bought a new stake in Shopify in the third quarter worth approximately $104,000. Baltimore Washington Financial Advisors Inc. increased its stake in shares of Shopify by 2.2% during the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 82,641 shares of the software maker’s stock worth $6,623,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of Shopify by 35.8% during the 3rd quarter. Cerity Partners LLC now owns 85,993 shares of the software maker’s stock valued at $6,891,000 after purchasing an additional 22,667 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SHOP has been the subject of a number of recent research reports. Loop Capital increased their target price on shares of Shopify from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. increased their price objective on Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Canaccord Genuity Group boosted their target price on Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. JMP Securities increased their price target on Shopify from $80.00 to $120.00 and gave the company a “market outperform” rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company boosted their price objective on shares of Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Shopify has a consensus rating of “Moderate Buy” and a consensus price target of $95.84.

Shopify Stock Up 0.4 %

Shares of NYSE SHOP opened at $112.55 on Thursday. The business has a fifty day moving average of $87.75 and a two-hundred day moving average of $73.18. 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 Inc. has a 52-week low of $48.56 and a 52-week high of $115.62. The stock has a market cap of $145.23 billion, a PE ratio of 105.19, a PEG ratio of 2.92 and a beta of 2.36.

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.