Doliver Advisors LP Lowers Stock Holdings in Shopify Inc. (NYSE:SHOP)

Doliver Advisors LP lessened its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 15.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,996 shares of the software maker’s stock after selling 917 shares during the quarter. Doliver Advisors LP’s holdings in Shopify were worth $531,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oliver Lagore Vanvalin Investment Group increased its stake in Shopify by 100.0% during the second 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 during the period. Hazlett Burt & Watson Inc. purchased a new stake in Shopify during the 2nd quarter worth approximately $33,000. Brooklyn Investment Group purchased a new stake in Shopify during the 3rd quarter worth approximately $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 in the last quarter. Finally, Truvestments Capital LLC purchased a new position in Shopify in the 3rd quarter valued at approximately $45,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

NYSE SHOP traded up $4.26 during trading hours on Monday, hitting $113.51. 4,114,933 shares of the stock were exchanged, compared to its average volume of 3,802,999. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The company has a market cap of $146.67 billion, a price-to-earnings ratio of 106.09, a price-to-earnings-growth ratio of 2.98 and a beta of 2.46. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $120.72. The stock has a 50-day moving average of $104.50 and a 200 day moving average of $83.01.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SHOP. Moffett Nathanson upped their price objective on Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Redburn Atlantic raised Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price target on the stock in a research report on Tuesday, September 17th. The Goldman Sachs Group boosted their price objective on Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. JMP Securities reiterated a “market outperform” rating and set a $120.00 price target on shares of Shopify in a report on Thursday, December 12th. Finally, Oppenheimer boosted their target price on shares of Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $99.88.

About Shopify

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.