First Affirmative Financial Network Sells 400 Shares of Shopify Inc. (NYSE:SHOP)

First Affirmative Financial Network lowered its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 12.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,737 shares of the software maker’s stock after selling 400 shares during the period. First Affirmative Financial Network’s holdings in Shopify were worth $291,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SHOP. Synergy Asset Management LLC bought a new position in shares of Shopify during the 4th quarter valued at about $55,000. Forsta AP Fonden lifted its holdings in shares of Shopify by 21.5% during the 4th quarter. Forsta AP Fonden now owns 369,500 shares of the software maker’s stock valued at $39,306,000 after purchasing an additional 65,400 shares in the last quarter. BOCHK Asset Management Ltd lifted its holdings in shares of Shopify by 47.8% during the 4th quarter. BOCHK Asset Management Ltd now owns 131,500 shares of the software maker’s stock valued at $13,982,000 after purchasing an additional 42,500 shares in the last quarter. R Squared Ltd bought a new position in shares of Shopify during the 4th quarter valued at about $128,000. Finally, BSW Wealth Partners bought a new position in shares of Shopify during the 4th quarter valued at about $269,000. Institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

Shares of SHOP opened at $119.23 on Friday. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $120.72. The business has a 50-day simple moving average of $109.91 and a two-hundred day simple moving average of $88.09. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The stock has a market cap of $154.06 billion, a PE ratio of 111.43, a PEG ratio of 2.45 and a beta of 2.46.

Wall Street Analyst Weigh In

SHOP has been the topic of several recent analyst reports. Oppenheimer lifted their price objective on Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Wells Fargo & Company lifted their target price on Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Truist Financial lifted their target price on Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday, November 13th. Robert W. Baird lifted their target price on Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $70.00 target price on shares of Shopify in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $100.32.

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.