Shopify Inc. (NYSE:SHOP) Shares Sold by Burns J W & Co. Inc. NY

Burns J W & Co. Inc. NY reduced its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 10.9% during the 4th quarter, HoldingsChannel reports. The fund owned 2,850 shares of the software maker’s stock after selling 350 shares during the period. Burns J W & Co. Inc. NY’s holdings in Shopify were worth $303,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. increased its position in shares of Shopify by 78.7% during the 2nd quarter. Victory Capital Management Inc. now owns 147,285 shares of the software maker’s stock worth $9,728,000 after purchasing an additional 64,856 shares during the last quarter. BOKF NA lifted its position in shares of Shopify by 36.2% during the 2nd quarter. BOKF NA now owns 7,794 shares of the software maker’s stock worth $515,000 after purchasing an additional 2,072 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in shares of Shopify by 23.3% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 26,582 shares of the software maker’s stock worth $1,756,000 after acquiring an additional 5,026 shares in the last quarter. HBK Sorce Advisory LLC lifted its position in shares of Shopify by 8.0% during the 2nd quarter. HBK Sorce Advisory LLC now owns 7,033 shares of the software maker’s stock worth $465,000 after buying an additional 522 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in Shopify by 6.5% in the second quarter. Parallel Advisors LLC now owns 23,128 shares of the software maker’s stock valued at $1,528,000 after acquiring an additional 1,419 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on SHOP. Cantor Fitzgerald reissued a “neutral” rating and set a $70.00 price target on shares of Shopify in a report on Monday, October 7th. Citigroup upped their price target on Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, September 30th. DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Scotiabank boosted their target price on shares of Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, October 24th. Finally, New Street Research began coverage on Shopify in a research note on Friday. They issued a “neutral” rating and a $115.00 target price for the company. One 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $100.31.

Shopify Trading Down 2.0 %

Shares of SHOP traded down $2.04 during trading hours on Monday, reaching $101.67. The stock had a trading volume of 7,907,303 shares, compared to its average volume of 6,097,775. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $120.72. The firm has a 50-day moving average of $107.35 and a 200 day moving average of $84.54. The company has a market cap of $131.37 billion, a P/E ratio of 95.02, a P/E/G ratio of 2.98 and a beta of 2.46. 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 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.