Shopify Inc. (NYSE:SHOP) Shares Sold by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC trimmed its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 76.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 9,503 shares of the software maker’s stock after selling 30,123 shares during the period. Icon Wealth Advisors LLC’s holdings in Shopify were worth $762,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SHOP. Oliver Lagore Vanvalin Investment Group grew its stake in Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after purchasing an additional 200 shares in the last quarter. Cultivar Capital Inc. purchased a new stake in Shopify during the 2nd quarter worth about $33,000. Hazlett Burt & Watson Inc. purchased a new stake in Shopify during the 2nd quarter worth about $33,000. Rosenberg Matthew Hamilton lifted its holdings in Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after buying an additional 133 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Shopify during the 2nd quarter worth about $39,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Price Performance

SHOP stock opened at $106.96 on Friday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $115.62. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The stock’s 50 day moving average price is $85.50 and its 200 day moving average price is $72.15. The firm has a market cap of $138.02 billion, a P/E ratio of 99.96, a PEG ratio of 2.80 and a beta of 2.36.

Wall Street Analyst Weigh In

SHOP has been the subject of several research reports. Redburn Atlantic raised Shopify from a “neutral” rating to a “buy” rating and set a $99.00 target price for the company in a report on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft boosted their target price on Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, August 8th. UBS Group boosted their target price on Shopify from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Mizuho boosted their target price on Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company boosted their target price on Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.95.

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.