ORG Partners LLC Has $1.36 Million Position in Shopify Inc. (NYSE:SHOP)

ORG Partners LLC decreased its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.1% during the 4th quarter, Holdings Channel reports. The firm owned 12,744 shares of the software maker’s stock after selling 403 shares during the quarter. ORG Partners LLC’s holdings in Shopify were worth $1,355,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SHOP. Oliver Lagore Vanvalin Investment Group increased its holdings 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 worth $26,000 after buying an additional 200 shares in the last quarter. Brooklyn Investment Group bought a new position in Shopify in the 3rd quarter valued at $33,000. Rosenberg Matthew Hamilton boosted its stake in Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares in the last quarter. Hazlett Burt & Watson Inc. bought a new stake in shares of Shopify during the second quarter worth $33,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Shopify in the third quarter valued at $45,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Oppenheimer increased their price objective on shares of Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Mizuho upped their price objective on Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Scotiabank lifted their target price on Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, October 24th. Citigroup upped their price target on Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, KeyCorp lifted their price objective on Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Shopify currently has an average rating of “Moderate Buy” and an average target price of $100.31.

Shopify Stock Down 4.9 %

SHOP traded down $5.28 during trading hours on Friday, hitting $102.36. 3,511,576 shares of the company’s stock were exchanged, compared to its average volume of 4,828,184. The stock has a market cap of $132.26 billion, a price-to-earnings ratio of 95.66, a PEG ratio of 2.98 and a beta of 2.46. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $120.72. The stock’s 50-day moving average is $106.86 and its two-hundred day moving average is $83.99. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09.

Shopify Company 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.