Nvwm LLC Sells 1,197 Shares of Shopify Inc. (NYSE:SHOP)

Nvwm LLC lowered its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 17,059 shares of the software maker’s stock after selling 1,197 shares during the period. Nvwm LLC’s holdings in Shopify were worth $1,814,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swiss National Bank boosted its stake in shares of Shopify by 0.9% during the 3rd quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock worth $293,507,000 after buying an additional 33,300 shares during the last quarter. Jennison Associates LLC acquired a new position in Shopify during the fourth quarter valued at approximately $132,323,000. Watts Gwilliam & Co. LLC grew its stake in Shopify by 53.0% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after purchasing an additional 4,641 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of Shopify by 29.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock worth $27,409,000 after purchasing an additional 77,500 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Shopify by 26.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock worth $2,693,000 after purchasing an additional 7,027 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on SHOP. Wells Fargo & Company lifted their target price on Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Robert W. Baird lifted their price objective on shares of Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $130.00 price objective on shares of Shopify in a research report on Wednesday, January 22nd. The Goldman Sachs Group lifted their target price on shares of Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, 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 research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $100.32.

Shopify Trading Up 4.3 %

NYSE SHOP opened at $119.31 on Wednesday. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $122.00. The business has a 50 day moving average price of $110.57 and a 200-day moving average price of $89.73. 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 company has a market cap of $154.16 billion, a price-to-earnings ratio of 111.50, a P/E/G ratio of 2.46 and a beta of 2.47.

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.