MSA Advisors LLC Sells 13,690 Shares of Shopify Inc. (NYSE:SHOP)

MSA Advisors LLC cut its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 41.2% during the third quarter, Holdings Channel reports. The firm owned 19,500 shares of the software maker’s stock after selling 13,690 shares during the quarter. Shopify makes up 0.4% of MSA Advisors LLC’s portfolio, making the stock its 14th biggest holding. MSA Advisors LLC’s holdings in Shopify were worth $1,563,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SHOP. Baillie Gifford & Co. boosted its holdings in shares of Shopify by 14.7% during the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after purchasing an additional 8,131,160 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of Shopify by 49.9% during the 2nd quarter. Mackenzie Financial Corp now owns 6,315,028 shares of the software maker’s stock valued at $417,386,000 after acquiring an additional 2,102,939 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of Shopify by 54.2% in the 2nd quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock worth $311,404,000 after buying an additional 1,657,251 shares in the last quarter. MUFG Securities EMEA plc increased its holdings in shares of Shopify by 11,507.2% in the 2nd quarter. MUFG Securities EMEA plc now owns 1,506,260 shares of the software maker’s stock worth $99,488,000 after buying an additional 1,493,283 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Shopify by 52.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker’s stock worth $308,390,000 after buying an additional 1,325,350 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Price Performance

NYSE SHOP opened at $106.96 on Monday. The firm’s fifty day simple moving average is $85.50 and its two-hundred day simple moving average is $72.18. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $115.62. The firm has a market capitalization of $138.02 billion, a P/E ratio of 99.96, a P/E/G ratio of 2.81 and a beta of 2.36. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Royal Bank of Canada lifted their target price on Shopify from $100.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Robert W. Baird boosted 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. Wedbush restated a “neutral” rating and issued a $115.00 price target (up from $72.00) on shares of Shopify in a research report on Tuesday, November 12th. Finally, Barclays boosted their price objective on shares of Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $94.95.

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.