Realta Investment Advisors Reduces Holdings in Shopify Inc. (NYSE:SHOP)

Realta Investment Advisors lessened its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 14.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,885 shares of the software maker’s stock after selling 839 shares during the period. Realta Investment Advisors’ holdings in Shopify were worth $534,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC grew its holdings in 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 buying an additional 253 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its position in shares of Shopify by 7.1% in the third quarter. Dynamic Advisor Solutions LLC now owns 8,778 shares of the software maker’s stock valued at $703,000 after acquiring an additional 585 shares in the last quarter. CWM LLC lifted its position in shares of Shopify by 14.9% in the third quarter. CWM LLC now owns 14,097 shares of the software maker’s stock valued at $1,130,000 after acquiring an additional 1,832 shares in the last quarter. Wedmont Private Capital acquired a new stake in shares of Shopify during the third quarter valued at $269,000. Finally, Perpetual Ltd increased its position in Shopify by 3.3% during the 3rd quarter. Perpetual Ltd now owns 193,513 shares of the software maker’s stock worth $15,508,000 after purchasing an additional 6,258 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SHOP has been the topic of several analyst reports. New Street Research initiated coverage on shares of Shopify in a research note on Friday, January 10th. They set a “neutral” rating and a $115.00 price target on the stock. Truist Financial raised their target price on shares of Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. Moffett Nathanson upped their target price on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Wedbush raised Shopify from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $115.00 to $125.00 in a research note on Monday, January 6th. Finally, DZ Bank downgraded shares of Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.32.

Shopify Stock Down 2.6 %

Shares of NYSE:SHOP opened at $118.61 on Friday. The firm has a market cap of $153.26 billion, a PE ratio of 110.86, a price-to-earnings-growth ratio of 2.46 and a beta of 2.47. The company has a fifty day simple moving average of $110.88 and a 200 day simple moving average of $90.15. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $122.81.

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.