Mutual Advisors LLC Sells 1,358 Shares of Shopify Inc. (NYSE:SHOP)

Mutual Advisors LLC reduced its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,329 shares of the software maker’s stock after selling 1,358 shares during the quarter. Mutual Advisors LLC’s holdings in Shopify were worth $2,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings in Shopify by 23.8% during the second quarter. EverSource Wealth Advisors LLC now owns 3,020 shares of the software maker’s stock valued at $185,000 after acquiring an additional 581 shares during the period. Evergreen Capital Management LLC lifted its holdings in Shopify by 12.9% in the 2nd quarter. Evergreen Capital Management LLC now owns 10,508 shares of the software maker’s stock worth $694,000 after purchasing an additional 1,201 shares in the last quarter. APG Asset Management US Inc. boosted its stake in Shopify by 2.4% in the 2nd quarter. APG Asset Management US Inc. now owns 376,776 shares of the software maker’s stock worth $24,807,000 after purchasing an additional 9,001 shares during the period. APG Asset Management N.V. grew its holdings in Shopify by 6.3% during the 2nd quarter. APG Asset Management N.V. now owns 936,792 shares of the software maker’s stock valued at $57,751,000 after buying an additional 55,420 shares in the last quarter. Finally, Maplelane Capital LLC bought a new stake in shares of Shopify during the second quarter valued at approximately $5,614,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on SHOP. KeyCorp raised their target price on shares of Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Truist Financial raised their price objective on Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday, November 13th. Atb Cap Markets downgraded Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Piper Sandler raised their price target on Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Finally, Moffett Nathanson upped their price objective on Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.31.

Shopify Trading Down 0.2 %

Shares of NYSE SHOP opened at $106.16 on Friday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $120.72. The firm has a market cap of $137.17 billion, a PE ratio of 99.21, a price-to-earnings-growth ratio of 2.23 and a beta of 2.46. The business has a fifty day simple moving average of $109.44 and a two-hundred day simple moving average of $86.51. 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 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.