KG&L Capital Management LLC Trims Holdings in Shopify Inc. (NYSE:SHOP)

KG&L Capital Management LLC decreased its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 22.3% in the fourth quarter, HoldingsChannel reports. The firm owned 5,439 shares of the software maker’s stock after selling 1,560 shares during the quarter. KG&L Capital Management LLC’s holdings in Shopify were worth $578,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Baillie Gifford & Co. raised its holdings in shares of Shopify by 14.7% during the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after acquiring an additional 8,131,160 shares in the last quarter. FMR LLC increased its position in Shopify by 16.1% during the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after purchasing an additional 5,869,795 shares during the period. National Bank of Canada FI raised its holdings in Shopify by 28.0% in the 3rd quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock worth $593,588,000 after purchasing an additional 1,621,981 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Shopify by 52.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker’s stock worth $308,390,000 after purchasing an additional 1,325,350 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in shares of Shopify by 7,928.7% during the 3rd quarter. International Assets Investment Management LLC now owns 1,141,915 shares of the software maker’s stock valued at $91,513,000 after purchasing an additional 1,127,692 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

SHOP has been the subject of several research analyst reports. Robert W. Baird raised their price objective on shares of Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Barclays raised their target price on Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Mizuho upped their price target on Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. JMP Securities reissued a “market outperform” rating and set a $120.00 price objective on shares of Shopify in a research report on Thursday, December 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $130.00 target price on shares of Shopify in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $100.32.

Shopify Price Performance

Shares of NYSE:SHOP opened at $116.70 on Friday. 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 stock has a market capitalization of $150.79 billion, a PE ratio of 109.07, a price-to-earnings-growth ratio of 2.45 and a beta of 2.46. The firm’s 50 day moving average price is $110.36 and its 200-day moving average price is $88.67. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $122.00.

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.