Shopify Inc. (NYSE:SHOP) Position Reduced by First Affirmative Financial Network

First Affirmative Financial Network cut its position in shares of Shopify Inc. (NYSE:SHOPFree Report) (TSE:SHOP) by 12.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,737 shares of the software maker’s stock after selling 400 shares during the quarter. First Affirmative Financial Network’s holdings in Shopify were worth $291,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SHOP. Trust Co. of Vermont increased its holdings in shares of Shopify by 9.9% in the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after purchasing an additional 100 shares during the period. First United Bank & Trust increased its holdings in shares of Shopify by 2.2% in the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock valued at $488,000 after purchasing an additional 100 shares during the period. Sunbelt Securities Inc. increased its holdings in Shopify by 0.7% in the third quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock worth $1,162,000 after buying an additional 105 shares during the last quarter. Redhawk Wealth Advisors Inc. increased its holdings in Shopify by 3.3% in 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 during the last quarter. Finally, Moser Wealth Advisors LLC increased 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 worth $755,000 after buying an additional 128 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Price Performance

Shares of SHOP stock opened at $119.23 on Friday. The stock has a 50-day moving average price of $109.91 and a 200 day moving average price of $88.09. 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 market cap of $154.06 billion, a price-to-earnings ratio of 111.43, a PEG ratio of 2.45 and a beta of 2.46. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $120.72.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. 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. Oppenheimer increased their price objective on Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Moffett Nathanson increased their price objective on Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Atb Cap Markets downgraded Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Robert W. Baird upped their target price on Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $100.32.

Read Our Latest Research Report on Shopify

About Shopify

(Free Report)

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.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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