Legacy Wealth Asset Management LLC Sells 353 Shares of Shopify Inc. (NYSE:SHOP)

Legacy Wealth Asset Management LLC trimmed its holdings in Shopify Inc. (NYSE:SHOPFree Report) (TSE:SHOP) by 4.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,774 shares of the software maker’s stock after selling 353 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Shopify were worth $827,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Baillie Gifford & Co. raised its holdings in shares of Shopify by 14.7% in the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after acquiring an additional 8,131,160 shares during the last quarter. FMR LLC raised its stake in shares of Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after purchasing an additional 5,869,795 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Shopify by 49.9% in the second quarter. Mackenzie Financial Corp now owns 6,315,028 shares of the software maker’s stock valued at $417,386,000 after purchasing an additional 2,102,939 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Shopify by 54.2% during the second quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock valued at $311,404,000 after buying an additional 1,657,251 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in Shopify by 28.0% during the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock worth $593,588,000 after buying an additional 1,621,981 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Down 0.7 %

Shares of NYSE SHOP opened at $103.47 on Friday. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The company has a market cap of $133.70 billion, a P/E ratio of 96.71, a P/E/G ratio of 2.18 and a beta of 2.46. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $120.72. The business has a 50-day simple moving average of $108.71 and a two-hundred day simple moving average of $85.17.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and raised their price objective for the company from $110.00 to $140.00 in a research note on Friday, December 6th. Citigroup boosted their price target on shares of Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Truist Financial increased their price objective on shares of Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, November 13th. Oppenheimer boosted their target price on Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Atb Cap Markets downgraded Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $100.31.

Get Our Latest Analysis on Shopify

Shopify Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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