Davies Financial Advisors Inc. Trims Stock Holdings in Shopify Inc. (NYSE:SHOP)

Davies Financial Advisors Inc. cut its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 7.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,343 shares of the software maker’s stock after selling 200 shares during the period. Davies Financial Advisors Inc.’s holdings in Shopify were worth $249,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Oliver Lagore Vanvalin Investment Group grew its position 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 purchasing an additional 200 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Shopify during the third quarter worth about $33,000. Rosenberg Matthew Hamilton grew its holdings in shares of 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 buying an additional 133 shares during the last quarter. Truvestments Capital LLC acquired a new position in Shopify in the 3rd quarter valued at about $45,000. Finally, GAMMA Investing LLC raised its stake 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 acquiring an additional 253 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SHOP. DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Oppenheimer upped their price objective on shares of Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald restated a “neutral” rating and issued a $70.00 target price on shares of Shopify in a research note on Monday, October 7th. Scotiabank boosted their price target on shares of Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada raised their price objective on shares of Shopify from $100.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $100.31.

Shopify Stock Performance

Shares of SHOP opened at $103.25 on Tuesday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $120.72. The company’s 50 day simple moving average is $109.39 and its 200 day simple moving average is $85.84. The company has a market capitalization of $133.41 billion, a price-to-earnings ratio of 96.50, a PEG ratio of 2.17 and a beta of 2.46. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10.

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.