Stratos Wealth Partners LTD. Trims Stock Holdings in Shopify Inc. (NYSE:SHOP)

Stratos Wealth Partners LTD. cut its holdings in shares of Shopify Inc. (NYSE:SHOPFree Report) (TSE:SHOP) by 10.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 23,816 shares of the software maker’s stock after selling 2,816 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Shopify were worth $2,532,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Jennison Associates LLC acquired a new position in shares of Shopify in the 4th quarter worth approximately $132,323,000. Swiss National Bank lifted its stake in Shopify by 0.9% during the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock worth $293,507,000 after purchasing an additional 33,300 shares during the last quarter. Watts Gwilliam & Co. LLC boosted its holdings in 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 purchasing an additional 4,641 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in Shopify by 29.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock valued at $27,409,000 after purchasing an additional 77,500 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of Shopify by 26.4% during the third quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock worth $2,693,000 after purchasing an additional 7,027 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Trading Down 1.1 %

NYSE:SHOP opened at $117.33 on Friday. The stock has a fifty day simple moving average of $110.88 and a 200 day simple moving average of $90.15. 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 firm has a market capitalization of $151.60 billion, a price-to-earnings ratio of 109.65, a price-to-earnings-growth ratio of 2.46 and a beta of 2.47. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $122.81.

Wall Street Analyst Weigh In

SHOP has been the subject of several research reports. Canaccord Genuity Group lifted their price target on shares of Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Piper Sandler lifted their target price on Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. DZ Bank cut Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and boosted their price objective for the company from $110.00 to $140.00 in a research report on Friday, December 6th. Finally, Mizuho increased their target price on Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $100.32.

Check Out Our Latest Research Report 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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