Holistic Financial Partners Sells 511 Shares of Shopify Inc. (NYSE:SHOP)

Holistic Financial Partners cut its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 14.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,036 shares of the software maker’s stock after selling 511 shares during the quarter. Holistic Financial Partners’ holdings in Shopify were worth $243,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Baillie Gifford & Co. grew its stake in Shopify by 14.7% in the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after purchasing an additional 8,131,160 shares during the period. Capital World Investors grew its position in shares of Shopify by 26.2% in the 1st quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock worth $3,840,332,000 after buying an additional 10,340,040 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Shopify by 21.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock worth $2,642,265,000 after acquiring an additional 5,982,434 shares in the last quarter. GQG Partners LLC lifted its position in Shopify by 197.9% during the 1st quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock valued at $1,613,006,000 after acquiring an additional 13,885,473 shares during the period. Finally, Capital International Investors boosted its stake in Shopify by 3.4% during the first quarter. Capital International Investors now owns 16,392,141 shares of the software maker’s stock worth $1,264,982,000 after acquiring an additional 542,503 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SHOP shares. Roth Mkm boosted their price target on Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Truist Financial increased their target price on Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, November 13th. Loop Capital lifted their price target on Shopify from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Scotiabank lifted their target price on shares of Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Shopify presently has an average rating of “Moderate Buy” and an average price target of $94.95.

Shopify Stock Performance

SHOP opened at $108.49 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.10. The stock has a market capitalization of $139.99 billion, a price-to-earnings ratio of 101.39, a PEG ratio of 3.45 and a beta of 2.36. The company has a fifty day moving average of $81.97 and a 200 day moving average of $71.03. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $115.62.

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.