Strengthening Families & Communities LLC Decreases Stake in Shopify Inc. (NYSE:SHOP)

Strengthening Families & Communities LLC lessened its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,981 shares of the software maker’s stock after selling 159 shares during the period. Strengthening Families & Communities LLC’s holdings in Shopify were worth $319,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Swiss National Bank increased its holdings in Shopify by 0.9% in the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock valued at $293,507,000 after buying an additional 33,300 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Shopify by 26.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock valued at $2,693,000 after acquiring an additional 7,027 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its position in shares of Shopify by 4.6% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker’s stock worth $381,000 after acquiring an additional 209 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its stake in Shopify by 735.0% during the first quarter. Silvercrest Asset Management Group LLC now owns 52,928 shares of the software maker’s stock worth $4,084,000 after purchasing an additional 46,589 shares during the last quarter. Finally, Baker Avenue Asset Management LP boosted its holdings in Shopify by 10.9% in the third quarter. Baker Avenue Asset Management LP now owns 217,000 shares of the software maker’s stock valued at $17,390,000 after purchasing an additional 21,265 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Trading Down 2.4 %

NYSE:SHOP opened at $105.90 on Tuesday. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $115.62. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.10. The stock has a fifty day simple moving average of $82.73 and a 200-day simple moving average of $71.27. The company has a market capitalization of $136.65 billion, a PE ratio of 98.97, a price-to-earnings-growth ratio of 3.45 and a beta of 2.36.

Analysts Set New Price Targets

A number of analysts have weighed in on SHOP shares. DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft boosted their price target 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. KeyCorp raised their price objective on Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Morgan Stanley boosted their target price on Shopify from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Finally, Evercore ISI upped their target price on Shopify from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and a consensus price target of $94.95.

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.