Shopify Inc. (NYSE:SHOP) Shares Sold by Menard Financial Group LLC

Menard Financial Group LLC lowered its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 10,838 shares of the software maker’s stock after selling 153 shares during the period. Menard Financial Group LLC’s holdings in Shopify were worth $869,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Murchinson Ltd. purchased a new stake in shares of Shopify in the third quarter valued at approximately $360,000. IHT Wealth Management LLC grew its holdings in Shopify by 13.6% in the 3rd quarter. IHT Wealth Management LLC now owns 8,472 shares of the software maker’s stock valued at $678,000 after buying an additional 1,011 shares in the last quarter. Insight Holdings Group LLC grew its holdings in Shopify by 109.5% in the 3rd quarter. Insight Holdings Group LLC now owns 55,100 shares of the software maker’s stock valued at $4,416,000 after buying an additional 28,800 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of Shopify by 2.1% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 32,078 shares of the software maker’s stock worth $2,571,000 after acquiring an additional 655 shares during the last quarter. Finally, Hilltop Holdings Inc. raised its holdings in shares of Shopify by 72.3% during the 3rd quarter. Hilltop Holdings Inc. now owns 12,355 shares of the software maker’s stock worth $990,000 after acquiring an additional 5,185 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of SHOP opened at $111.88 on Wednesday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $116.35. The stock has a market capitalization of $144.56 billion, a P/E ratio of 104.56, a P/E/G ratio of 2.97 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 company’s fifty day moving average is $90.45 and its two-hundred day moving average is $74.83.

Analyst Upgrades and Downgrades

SHOP has been the subject of a number of analyst reports. Citigroup upped their price objective on shares of Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a report on Monday, September 30th. Evercore ISI lifted their price target on shares of Shopify from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Roth Mkm lifted their target price on Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Argus raised Shopify to a “strong-buy” rating in a research note on Thursday, August 8th. 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 report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seventeen have issued 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 $95.84.

About Shopify

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.