Resonant Capital Advisors LLC Has $326,000 Stock Position in Shopify Inc. (NYSE:SHOP)

Resonant Capital Advisors LLC lessened its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 12.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,068 shares of the software maker’s stock after selling 438 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Shopify were worth $326,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. KPP Advisory Services LLC acquired a new stake in Shopify in the 4th quarter valued at approximately $226,000. GPS Wealth Strategies Group LLC raised its holdings in shares of Shopify by 1.1% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 15,649 shares of the software maker’s stock valued at $1,664,000 after purchasing an additional 175 shares during the last quarter. Horst & Graben Wealth Management LLC lifted its position in shares of Shopify by 68.3% in the fourth quarter. Horst & Graben Wealth Management LLC now owns 6,917 shares of the software maker’s stock worth $735,000 after purchasing an additional 2,806 shares in the last quarter. Western Pacific Wealth Management LP acquired a new position in Shopify during the fourth quarter worth $85,000. Finally, Pacific Sage Partners LLC bought a new position in Shopify in the fourth quarter valued at $218,000. Institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on SHOP. Moffett Nathanson boosted their price target on shares of Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. KeyCorp increased their price target on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Oppenheimer boosted their price target on Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. JMP Securities reissued a “market outperform” rating and issued a $120.00 price objective on shares of Shopify in a report on Thursday, December 12th. Finally, Piper Sandler boosted their target price on shares of Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and a consensus target price of $100.32.

Shopify Price Performance

SHOP stock opened at $114.38 on Tuesday. The company’s 50-day moving average price is $110.36 and its two-hundred day moving average price is $88.97. The firm has a market cap of $147.79 billion, a P/E ratio of 106.90, a P/E/G ratio of 2.46 and a beta of 2.47. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $122.00.

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.