Shopify Inc. (NYSE:SHOP) Stock Holdings Lessened by Rise Advisors LLC

Rise Advisors LLC lessened its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 16.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,294 shares of the software maker’s stock after selling 261 shares during the period. Rise Advisors LLC’s holdings in Shopify were worth $138,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SHOP. Swiss National Bank raised its position in shares of Shopify by 0.9% during the 3rd quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock worth $293,507,000 after purchasing an additional 33,300 shares during the period. Teachers Retirement System of The State of Kentucky grew its stake in Shopify by 29.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock worth $27,409,000 after buying an additional 77,500 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in Shopify by 26.4% in the third quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock worth $2,693,000 after buying an additional 7,027 shares during the period. Nations Financial Group Inc. IA ADV lifted its stake in Shopify by 4.6% in the third quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker’s stock valued at $381,000 after buying an additional 209 shares during the last quarter. Finally, Wahed Invest LLC boosted its holdings in shares of Shopify by 18.4% during the third quarter. Wahed Invest LLC now owns 57,624 shares of the software maker’s stock valued at $4,618,000 after acquiring an additional 8,960 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Wedbush upgraded shares of Shopify from a “neutral” rating to an “outperform” rating and raised their price target for the company from $115.00 to $125.00 in a research note on Monday. DZ Bank downgraded Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Oppenheimer lifted their target price on Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group increased their price target on Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.88.

Shopify Stock Down 5.6 %

Shopify stock traded down $6.36 during trading hours on Tuesday, hitting $107.88. The company had a trading volume of 3,623,413 shares, compared to its average volume of 4,494,540. The firm’s fifty day moving average is $105.18 and its 200-day moving average is $83.37. The firm has a market capitalization of $139.39 billion, a P/E ratio of 100.82, a price-to-earnings-growth ratio of 2.98 and a beta of 2.46. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $120.72. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10.

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.