Montrusco Bolton Investments Inc. Sells 952 Shares of Shopify Inc. (NYSE:SHOP)

Montrusco Bolton Investments Inc. cut its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 34,159 shares of the software maker’s stock after selling 952 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in Shopify were worth $3,634,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SHOP. Trust Co. of Vermont boosted its position in shares of Shopify by 9.9% in the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock worth $118,000 after purchasing an additional 100 shares during the last quarter. First United Bank & Trust increased its holdings in Shopify by 2.2% in the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock valued at $488,000 after purchasing an additional 100 shares during the last quarter. Sunbelt Securities Inc. lifted its stake in Shopify by 0.7% in the third quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock valued at $1,162,000 after buying an additional 105 shares during the period. Redhawk Wealth Advisors Inc. raised its position in shares of Shopify by 3.3% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock valued at $357,000 after acquiring an additional 107 shares during the period. Finally, Moser Wealth Advisors LLC raised its holdings in Shopify by 1.4% in the third quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock worth $755,000 after purchasing an additional 128 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Up 9.3 %

SHOP opened at $117.35 on Wednesday. The stock has a fifty day moving average of $109.65 and a 200-day moving average of $87.89. The company has a market capitalization of $151.63 billion, a P/E ratio of 109.67, a P/E/G ratio of 2.24 and a beta of 2.46. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $120.72. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10.

Analyst Ratings Changes

A number of research firms recently commented on SHOP. Oppenheimer upped their price objective on shares of Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. New Street Research began coverage on Shopify in a report on Friday, January 10th. They issued a “neutral” rating and a $115.00 price target for the company. JMP Securities reiterated a “market outperform” rating and issued a $120.00 price target on shares of Shopify in a report on Thursday, December 12th. DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Finally, Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and increased their target price for the stock from $110.00 to $140.00 in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $100.32.

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.