Shopify Inc. (NYSE:SHOP) Shares Sold by Alliance Wealth Advisors LLC UT

Alliance Wealth Advisors LLC UT lessened its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,867 shares of the software maker’s stock after selling 957 shares during the period. Shopify accounts for 1.4% of Alliance Wealth Advisors LLC UT’s portfolio, making the stock its 12th biggest holding. Alliance Wealth Advisors LLC UT’s holdings in Shopify were worth $5,409,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Shopify by 73.5% in the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock worth $48,000 after buying an additional 253 shares in the last quarter. Salvus Wealth Management LLC grew its holdings in Shopify by 44.9% during the third quarter. Salvus Wealth Management LLC now owns 6,400 shares of the software maker’s stock worth $513,000 after acquiring an additional 1,982 shares during the period. Aprio Wealth Management LLC bought a new stake in Shopify in the third quarter worth about $236,000. Kesler Norman & Wride LLC lifted its holdings in Shopify by 1.9% in the 3rd quarter. Kesler Norman & Wride LLC now owns 9,538 shares of the software maker’s stock valued at $764,000 after acquiring an additional 180 shares during the last quarter. Finally, Alpha Cubed Investments LLC boosted its position in shares of Shopify by 30.7% during the 3rd quarter. Alpha Cubed Investments LLC now owns 8,627 shares of the software maker’s stock valued at $691,000 after purchasing an additional 2,028 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on SHOP shares. Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and increased their target price for the company from $110.00 to $140.00 in a research note on Friday, December 6th. Canaccord Genuity Group increased their price objective on Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Moffett Nathanson boosted their target price on Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. New Street Research assumed coverage on Shopify in a report on Friday, January 10th. They set a “neutral” rating and a $115.00 target price for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $130.00 price target on shares of Shopify in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $100.32.

Shopify Trading Down 2.1 %

Shares of NYSE:SHOP opened at $114.38 on Tuesday. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $147.79 billion, a PE ratio of 106.90, a P/E/G ratio of 2.46 and a beta of 2.47. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $122.00. The firm has a fifty day moving average price of $110.36 and a 200 day moving average price of $88.97.

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.