DRW Securities LLC Has $247,000 Stock Holdings in Shopify Inc. (NYSE:SHOP)

DRW Securities LLC lowered its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 32.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,076 shares of the software maker’s stock after selling 1,483 shares during the quarter. DRW Securities LLC’s holdings in Shopify were worth $247,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. iA Global Asset Management Inc. increased its position in shares of Shopify by 28.3% in the 1st quarter. iA Global Asset Management Inc. now owns 14,155 shares of the software maker’s stock valued at $1,092,000 after buying an additional 3,124 shares in the last quarter. Atria Investments Inc boosted its holdings in shares of Shopify by 9.0% in the first quarter. Atria Investments Inc now owns 75,648 shares of the software maker’s stock valued at $5,838,000 after buying an additional 6,244 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Shopify by 414.8% in the first quarter. Cetera Investment Advisers now owns 280,607 shares of the software maker’s stock valued at $21,654,000 after buying an additional 226,096 shares during the period. Cetera Advisors LLC raised its holdings in shares of Shopify by 42.5% during the first quarter. Cetera Advisors LLC now owns 93,440 shares of the software maker’s stock worth $7,211,000 after acquiring an additional 27,885 shares during the period. Finally, Soltis Investment Advisors LLC raised its holdings in shares of Shopify by 16.7% during the first quarter. Soltis Investment Advisors LLC now owns 4,238 shares of the software maker’s stock worth $327,000 after acquiring an additional 607 shares during the period. Institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

NYSE:SHOP opened at $112.55 on Thursday. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $115.62. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The firm’s 50-day simple moving average is $87.75 and its 200 day simple moving average is $73.18. The firm has a market cap of $145.23 billion, a price-to-earnings ratio of 105.19, a P/E/G ratio of 2.92 and a beta of 2.36.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SHOP shares. Atb Cap Markets cut Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. KeyCorp increased 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. Argus upgraded Shopify to a “strong-buy” rating in a research note on Thursday, August 8th. The Goldman Sachs Group raised their price target on shares of Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Loop Capital boosted their price objective on shares of Shopify from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.84.

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.