Mutual Advisors LLC Lowers Holdings in Shopify Inc. (NYSE:SHOP)

Mutual Advisors LLC trimmed its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,329 shares of the software maker’s stock after selling 1,358 shares during the period. Mutual Advisors LLC’s holdings in Shopify were worth $2,415,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in Shopify by 23.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,020 shares of the software maker’s stock worth $185,000 after buying an additional 581 shares in the last quarter. Evergreen Capital Management LLC lifted its holdings in shares of Shopify by 12.9% during the 2nd quarter. Evergreen Capital Management LLC now owns 10,508 shares of the software maker’s stock worth $694,000 after acquiring an additional 1,201 shares during the last quarter. APG Asset Management US Inc. grew its position in Shopify by 2.4% in the second quarter. APG Asset Management US Inc. now owns 376,776 shares of the software maker’s stock worth $24,807,000 after acquiring an additional 9,001 shares in the last quarter. APG Asset Management N.V. increased its stake in Shopify by 6.3% in the second quarter. APG Asset Management N.V. now owns 936,792 shares of the software maker’s stock valued at $57,751,000 after acquiring an additional 55,420 shares during the last quarter. Finally, Maplelane Capital LLC purchased a new stake in Shopify during the second quarter valued at about $5,614,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Trading Down 0.2 %

Shares of NYSE:SHOP opened at $106.16 on Friday. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $120.72. The stock has a market capitalization of $137.17 billion, a price-to-earnings ratio of 99.21, a PEG ratio of 2.23 and a beta of 2.46. 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 stock’s 50-day simple moving average is $109.44 and its two-hundred day simple moving average is $86.51.

Wall Street Analysts Forecast Growth

SHOP has been the subject of a number of research reports. Scotiabank upped their price objective on Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, October 24th. Atb Cap Markets cut shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. New Street Research assumed coverage on shares of Shopify in a report on Friday, January 10th. They issued a “neutral” rating and a $115.00 price objective for the company. Citigroup boosted their target price on Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, DZ Bank cut Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. One equities research 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 assigned a strong buy rating to the company. According to data from MarketBeat, Shopify currently 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.