Shopify Inc. (NYSE:SHOP) Stock Holdings Trimmed by HBW Advisory Services LLC

HBW Advisory Services LLC reduced its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 16.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,613 shares of the software maker’s stock after selling 699 shares during the period. HBW Advisory Services LLC’s holdings in Shopify were worth $384,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. raised its stake in shares of Shopify by 14.7% in the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after buying an additional 8,131,160 shares in the last quarter. FMR LLC lifted its holdings in Shopify by 16.1% in the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after acquiring an additional 5,869,795 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of Shopify by 49.9% during the 2nd quarter. Mackenzie Financial Corp now owns 6,315,028 shares of the software maker’s stock valued at $417,386,000 after purchasing an additional 2,102,939 shares in the last quarter. Clearbridge Investments LLC grew its stake in shares of Shopify by 54.2% in the 2nd quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock worth $311,404,000 after purchasing an additional 1,657,251 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in Shopify by 28.0% during the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after purchasing an additional 1,621,981 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of SHOP opened at $103.91 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. Shopify Inc. has a one year low of $48.56 and a one year high of $120.72. The company’s fifty day moving average price is $107.35 and its 200 day moving average price is $84.27. The company has a market capitalization of $134.26 billion, a PE ratio of 97.11, a price-to-earnings-growth ratio of 2.98 and a beta of 2.46.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Mizuho boosted their target price on Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Scotiabank lifted their price target on Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 24th. JMP Securities reaffirmed a “market outperform” rating and set a $120.00 price objective on shares of Shopify in a research note on Thursday, December 12th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $70.00 target price on shares of Shopify in a research report on Monday, October 7th. One equities 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $100.31.

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.