WP Advisors LLC Sells 4,000 Shares of Shopify Inc. $SHOP

WP Advisors LLC trimmed its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 57.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,988 shares of the software maker’s stock after selling 4,000 shares during the period. WP Advisors LLC’s holdings in Shopify were worth $481,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Lodestone Wealth Management LLC acquired a new position in Shopify during the fourth quarter valued at approximately $31,000. Sound Income Strategies LLC grew its holdings in Shopify by 82.4% during the fourth quarter. Sound Income Strategies LLC now owns 197 shares of the software maker’s stock valued at $31,000 after purchasing an additional 89 shares during the period. JPL Wealth Management LLC acquired a new position in Shopify during the third quarter valued at approximately $32,000. Caitlin John LLC acquired a new position in Shopify during the third quarter valued at approximately $36,000. Finally, Cornerstone Planning Group LLC lifted its stake in Shopify by 104.9% in the third quarter. Cornerstone Planning Group LLC now owns 250 shares of the software maker’s stock valued at $37,000 after buying an additional 128 shares in the last quarter. 69.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on SHOP. ATB Cormark Capital Markets raised shares of Shopify from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, February 10th. TD Securities raised Shopify from a “hold” rating to a “buy” rating and set a $159.00 price target for the company in a report on Thursday, February 12th. Needham & Company LLC reiterated a “buy” rating and set a $180.00 price objective on shares of Shopify in a research report on Thursday, February 12th. Benchmark reduced their target price on Shopify from $195.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Finally, Royal Bank Of Canada set a $170.00 price target on Shopify and gave the company an “outperform” rating in a research report on Thursday, February 12th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and a consensus target price of $162.70.

Shopify Stock Up 0.6%

Shares of SHOP opened at $131.96 on Thursday. The firm has a fifty day simple moving average of $121.62 and a two-hundred day simple moving average of $143.62. The stock has a market capitalization of $172.09 billion, a P/E ratio of 141.89, a PEG ratio of 4.66 and a beta of 2.82. Shopify Inc. has a twelve month low of $88.14 and a twelve month high of $182.19.

Shopify Company Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.