B & T Capital Management DBA Alpha Capital Management lessened its position in Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) by 18.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,186 shares of the software maker’s stock after selling 7,037 shares during the period. B & T Capital Management DBA Alpha Capital Management’s holdings in Shopify were worth $3,316,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group lifted its holdings in 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 buying an additional 200 shares during the period. Brooklyn Investment Group bought a new position in shares of Shopify during the third quarter worth about $33,000. Rosenberg Matthew Hamilton lifted its stake in shares of Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after acquiring an additional 133 shares during the period. Truvestments Capital LLC bought a new stake in Shopify in the third quarter valued at approximately $45,000. Finally, GAMMA Investing LLC increased its position in Shopify by 73.5% during the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after purchasing an additional 253 shares during the period. 69.27% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on SHOP. Citigroup upped their price objective on shares of Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Scotiabank increased their price target on Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, October 24th. Wedbush raised Shopify from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $115.00 to $125.00 in a research note on Monday, January 6th. Robert W. Baird raised their target price on Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company boosted their price target on Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and an average price target of $100.31.
Shopify Stock Performance
Shares of SHOP stock opened at $103.25 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The firm has a market cap of $133.41 billion, a price-to-earnings ratio of 96.50, a P/E/G ratio of 2.18 and a beta of 2.46. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $120.72. The firm’s 50-day simple moving average is $109.06 and its two-hundred day simple moving average is $85.30.
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.
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