Gateway Investment Advisers LLC Sells 874 Shares of Shopify Inc. (NYSE:SHOP)

Gateway Investment Advisers LLC lessened its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 49,414 shares of the software maker’s stock after selling 874 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Shopify were worth $5,254,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in SHOP. Oliver Lagore Vanvalin Investment Group grew its position in shares of Shopify by 100.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. Brooklyn Investment Group purchased a new position in Shopify during the 3rd quarter valued at approximately $33,000. Rosenberg Matthew Hamilton grew its holdings in Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after buying an additional 133 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of Shopify during the 3rd quarter worth approximately $45,000. Finally, GAMMA Investing LLC raised its holdings in shares of Shopify by 73.5% during the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock worth $48,000 after acquiring an additional 253 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Down 0.2 %

Shares of NYSE SHOP opened at $103.25 on Friday. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $120.72. The stock’s fifty day simple moving average is $109.06 and its two-hundred day simple moving average is $85.30. The stock has a market capitalization of $133.41 billion, a PE ratio of 96.50, a price-to-earnings-growth ratio of 2.18 and a beta of 2.46. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09.

Analysts Set New Price Targets

SHOP has been the topic of several research reports. Moffett Nathanson boosted their price target on shares of Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Scotiabank upped their target price on shares of Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, October 24th. The Goldman Sachs Group lifted their price target on Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. JMP Securities restated a “market outperform” rating and set a $120.00 price objective on shares of Shopify in a research report on Thursday, December 12th. Finally, Atb Cap Markets cut Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Shopify presently has an average rating of “Moderate Buy” and a consensus price target of $100.31.

About Shopify

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.