Gleason Group Inc. Has $132,000 Position in Shopify Inc. (NYSE:SHOP)

Gleason Group Inc. lessened its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 20.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,240 shares of the software maker’s stock after selling 310 shares during the period. Gleason Group Inc.’s holdings in Shopify were worth $132,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SHOP. Marcum Wealth LLC boosted its position in shares of Shopify by 8.7% in the fourth quarter. Marcum Wealth LLC now owns 11,598 shares of the software maker’s stock valued at $1,233,000 after acquiring an additional 931 shares during the period. Gunderson Capital Management Inc. acquired a new stake in shares of Shopify during the 4th quarter valued at about $6,719,000. Eastern Bank grew its stake in shares of Shopify by 18.4% in the 4th quarter. Eastern Bank now owns 2,120 shares of the software maker’s stock valued at $225,000 after purchasing an additional 330 shares during the period. Kieckhefer Group LLC bought a new position in shares of Shopify during the 4th quarter worth approximately $175,000. Finally, Fiduciary Alliance LLC grew its holdings in shares of Shopify by 13.2% in the 4th quarter. Fiduciary Alliance LLC now owns 13,865 shares of the software maker’s stock worth $1,474,000 after purchasing an additional 1,615 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Down 2.0 %

Shares of NYSE SHOP opened at $101.67 on Tuesday. The company has a market cap of $131.37 billion, a price-to-earnings ratio of 95.02, a PEG ratio of 2.98 and a beta of 2.46. 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 $120.72. The stock has a 50-day moving average price of $107.82 and a two-hundred day moving average price of $84.79.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SHOP. The Goldman Sachs Group raised their price target on Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Atb Cap Markets lowered shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Robert W. Baird increased their price objective on shares of Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Piper Sandler lifted their price objective on Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $70.00 price target on shares of Shopify in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Shopify currently has an average rating of “Moderate Buy” and a consensus price target of $100.31.

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.