Latitude Advisors LLC Sells 117 Shares of Shopify Inc. (NYSE:SHOP)

Latitude Advisors LLC reduced its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,611 shares of the software maker’s stock after selling 117 shares during the quarter. Latitude Advisors LLC’s holdings in Shopify were worth $384,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new stake in shares of Shopify in the third quarter worth $33,000. Rosenberg Matthew Hamilton raised its holdings in shares of Shopify by 41.3% in 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. New Wave Wealth Advisors LLC bought a new stake in shares of Shopify during the 4th quarter valued at about $39,000. Mather Group LLC. grew its holdings in shares of Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after purchasing an additional 184 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new position in shares of Shopify during the third quarter worth about $45,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

SHOP opened at $119.88 on Tuesday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $123.41. The stock has a 50-day moving average price of $110.91 and a 200-day moving average price of $90.95. The firm has a market cap of $154.89 billion, a PE ratio of 112.04, a P/E/G ratio of 2.49 and a beta of 2.47. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10.

Analyst Ratings Changes

Several equities research analysts have issued reports on SHOP shares. Mizuho lifted their target price on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Atb Cap Markets lowered shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. New Street Research began coverage on Shopify in a research report on Friday, January 10th. They set a “neutral” rating and a $115.00 price target on the stock. 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. Finally, KeyCorp raised their price objective on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $101.74.

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.