Grandview Asset Management LLC Reduces Stock Position in Shopify Inc. (NYSE:SHOP)

Grandview Asset Management LLC decreased its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 13.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,619 shares of the software maker’s stock after selling 1,161 shares during the quarter. Grandview Asset Management LLC’s holdings in Shopify were worth $810,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Oliver Lagore Vanvalin Investment Group raised its holdings in shares of 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 acquiring an additional 200 shares during the period. Brooklyn Investment Group acquired a new stake in Shopify during the third quarter worth about $33,000. Rosenberg Matthew Hamilton raised its stake in Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares during the period. Truvestments Capital LLC acquired a new position in Shopify in the 3rd quarter valued at about $45,000. Finally, GAMMA Investing LLC grew its stake in shares of Shopify by 73.5% in the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after buying an additional 253 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

Shares of SHOP opened at $101.67 on Tuesday. 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 Inc. has a 1-year low of $48.56 and a 1-year high of $120.72. The stock has a market cap of $131.37 billion, a PE ratio of 95.02, a price-to-earnings-growth ratio of 2.98 and a beta of 2.46. The firm has a fifty day moving average price of $107.82 and a 200 day moving average price of $84.79.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Canaccord Genuity Group upped their price objective on Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Loop Capital raised Shopify from a “hold” rating to a “buy” rating and raised their price objective for the stock from $110.00 to $140.00 in a research report on Friday, December 6th. Barclays upped their target price on shares of Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Mizuho boosted their price target on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Finally, Robert W. Baird increased their price objective on shares of Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and an average target price of $100.31.

Shopify 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.