Shopify Inc. (NYSE:SHOP) Shares Sold by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lessened its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 14.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,320 shares of the software maker’s stock after selling 1,029 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Shopify were worth $672,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Brooklyn Investment Group acquired a new position in shares of Shopify during the 3rd quarter valued at $33,000. Rosenberg Matthew Hamilton lifted its holdings in shares of Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after acquiring an additional 133 shares in the last quarter. Truvestments Capital LLC acquired a new position in shares of Shopify during the 3rd quarter valued at $45,000. GAMMA Investing LLC lifted its holdings in shares of Shopify by 73.5% during the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after acquiring an additional 253 shares in the last quarter. Finally, HM Payson & Co. lifted its holdings in shares of Shopify by 37.2% during the 3rd quarter. HM Payson & Co. now owns 686 shares of the software maker’s stock valued at $55,000 after acquiring an additional 186 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

NYSE SHOP opened at $117.35 on Wednesday. The company has a 50-day moving average price of $109.40 and a two-hundred day moving average price of $87.52. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The stock has a market cap of $151.63 billion, a price-to-earnings ratio of 109.67, a price-to-earnings-growth ratio of 2.24 and a beta of 2.46. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $120.72.

Wall Street Analyst Weigh In

SHOP has been the topic of several analyst reports. The Goldman Sachs Group lifted their price target on shares of Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and lifted their price target for the stock from $110.00 to $140.00 in a research note on Friday, December 6th. DZ Bank downgraded shares of Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Finally, Truist Financial lifted their price target on shares of Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Shopify has an average rating of “Moderate Buy” and a consensus price target of $100.32.

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.