Truefg LLC Reduces Position in Shopify Inc. (NYSE:SHOP)

Truefg LLC lessened its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 12.0% during the 4th quarter, HoldingsChannel reports. The fund owned 2,210 shares of the software maker’s stock after selling 300 shares during the quarter. Truefg LLC’s holdings in Shopify were worth $235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Oliver Lagore Vanvalin Investment Group boosted its stake in shares of Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after acquiring an additional 200 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Shopify during the 3rd quarter worth $33,000. Rosenberg Matthew Hamilton raised its position in shares of Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after purchasing an additional 133 shares during the period. Truvestments Capital LLC bought a new stake in shares of Shopify during the 3rd quarter valued at $45,000. Finally, GAMMA Investing LLC raised its position in shares of Shopify by 73.5% during the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after purchasing an additional 253 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

SHOP has been the topic of several recent analyst reports. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. KeyCorp raised their price objective on shares of Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Canaccord Genuity Group raised their price objective on shares of Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Oppenheimer raised their price objective on shares of Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, DZ Bank downgraded shares of Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Shopify currently has an average rating of “Moderate Buy” and an average price target of $100.31.

Shopify Price Performance

Shopify stock opened at $103.47 on Friday. The stock has a market cap of $133.70 billion, a price-to-earnings ratio of 96.71, a price-to-earnings-growth ratio of 2.18 and a beta of 2.46. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $120.72. The firm has a 50-day moving average of $108.71 and a two-hundred day moving average of $85.17.

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.