Diversify Advisory Services LLC Trims Stock Position in Shopify Inc. (NYSE:SHOP)

Diversify Advisory Services LLC cut its holdings in shares of Shopify Inc. (NYSE:SHOPFree Report) (TSE:SHOP) by 5.3% in the fourth quarter, HoldingsChannel reports. The firm owned 13,220 shares of the software maker’s stock after selling 734 shares during the period. Diversify Advisory Services LLC’s holdings in Shopify were worth $1,371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swiss National Bank boosted its stake in shares of Shopify by 0.9% in the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock worth $293,507,000 after buying an additional 33,300 shares during the last quarter. Watts Gwilliam & Co. LLC raised its position in shares of Shopify by 53.0% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock worth $1,431,000 after acquiring an additional 4,641 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Shopify by 29.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock worth $27,409,000 after acquiring an additional 77,500 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in shares of Shopify by 26.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock valued at $2,693,000 after acquiring an additional 7,027 shares during the period. Finally, Nations Financial Group Inc. IA ADV increased its stake in shares of Shopify by 4.6% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker’s stock valued at $381,000 after purchasing an additional 209 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of SHOP stock opened at $103.25 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The firm has a market cap of $133.41 billion, a P/E ratio of 96.50, a P/E/G ratio of 2.18 and a beta of 2.46. The firm’s 50 day moving average price is $109.39 and its 200-day moving average price is $85.84. Shopify Inc. has a one year low of $48.56 and a one year high of $120.72.

Analyst Upgrades and Downgrades

Several brokerages have commented on SHOP. 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. Cantor Fitzgerald reissued a “neutral” rating and issued a $70.00 price target on shares of Shopify in a research note on Monday, October 7th. Canaccord Genuity Group upped their price objective on shares of Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Citigroup lifted their target price on shares of Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, Piper Sandler upped their price target on shares of Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Shopify currently has an average rating of “Moderate Buy” and a consensus price target of $100.31.

Check Out Our Latest Analysis on SHOP

About Shopify

(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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