State of Wyoming Sells 757 Shares of Shopify Inc. (NYSE:SHOP)

State of Wyoming reduced its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 16.6% in the 4th quarter, HoldingsChannel reports. The firm owned 3,797 shares of the software maker’s stock after selling 757 shares during the quarter. State of Wyoming’s holdings in Shopify were worth $404,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allianz SE bought a new position in shares of Shopify in the 4th quarter worth $27,000. PFG Private Wealth Management LLC increased its stake in Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after purchasing an additional 256 shares in the last quarter. Mark Sheptoff Financial Planning LLC raised its holdings in Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after buying an additional 100 shares during the last quarter. New Wave Wealth Advisors LLC bought a new position in shares of Shopify in the fourth quarter valued at $39,000. Finally, 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 valued at $43,000 after buying an additional 184 shares during the last quarter. 69.27% of the stock is owned by institutional investors.

Shopify Price Performance

Shares of NYSE:SHOP opened at $106.43 on Wednesday. The company’s fifty day moving average price is $94.87 and its 200-day moving average price is $104.30. The firm has a market capitalization of $137.81 billion, a price-to-earnings ratio of 68.66, a PEG ratio of 4.82 and a beta of 2.66. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SHOP. Robert W. Baird upped their target price on shares of Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Royal Bank of Canada decreased their price objective on Shopify from $145.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, April 17th. UBS Group dropped their target price on Shopify from $125.00 to $110.00 and set a “neutral” rating on the stock in a report on Friday, May 9th. BNP Paribas cut Shopify from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 5th. Finally, Mizuho decreased their price target on Shopify from $110.00 to $85.00 and set a “neutral” rating for the company in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $115.37.

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.