China Universal Asset Management Co. Ltd. Sells 7,800 Shares of Shopify Inc. (NYSE:SHOP)

China Universal Asset Management Co. Ltd. lowered its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 23.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,500 shares of the software maker’s stock after selling 7,800 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Shopify were worth $2,711,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SHOP. Baillie Gifford & Co. boosted its position in Shopify by 14.7% during the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after buying an additional 8,131,160 shares during the period. FMR LLC increased its stake in Shopify by 16.1% in the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after purchasing an additional 5,869,795 shares during the period. National Bank of Canada FI increased its stake in Shopify by 28.0% in the 3rd quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock worth $593,588,000 after purchasing an additional 1,621,981 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Shopify by 52.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker’s stock valued at $308,390,000 after purchasing an additional 1,325,350 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of Shopify by 7,928.7% during the third quarter. International Assets Investment Management LLC now owns 1,141,915 shares of the software maker’s stock valued at $91,513,000 after purchasing an additional 1,127,692 shares during the period. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Down 2.1 %

SHOP opened at $116.70 on Friday. The company has a market capitalization of $150.79 billion, a PE ratio of 109.07, a price-to-earnings-growth ratio of 2.45 and a beta of 2.46. The firm has a 50-day simple moving average of $110.36 and a two-hundred day simple moving average of $88.67. 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 Inc. has a 52 week low of $48.56 and a 52 week high of $122.00.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SHOP. Wedbush upgraded shares of Shopify from a “neutral” rating to an “outperform” rating and upped their price target for the company from $115.00 to $125.00 in a report on Monday, January 6th. Cantor Fitzgerald reiterated a “neutral” rating and set a $70.00 target price on shares of Shopify in a report on Monday, October 7th. Mizuho upped their target price on Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and increased their price target for the stock from $110.00 to $140.00 in a research note on Friday, December 6th. Finally, Barclays lifted their price objective on Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and a consensus target price 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.