Shopify Inc. (NYSE:SHOP) Position Trimmed by Equitable Trust Co.

Equitable Trust Co. trimmed its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 249,848 shares of the software maker’s stock after selling 5,115 shares during the quarter. Shopify accounts for about 1.5% of Equitable Trust Co.’s portfolio, making the stock its 13th largest holding. Equitable Trust Co.’s holdings in Shopify were worth $26,566,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in SHOP. Howland Capital Management LLC lifted its position in shares of Shopify by 2.0% in the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock valued at $526,000 after acquiring an additional 99 shares in the last quarter. Trust Co. of Vermont lifted its position in shares of Shopify by 9.9% in the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after acquiring an additional 100 shares in the last quarter. First United Bank & Trust lifted its position in shares of Shopify by 2.2% in the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock valued at $488,000 after acquiring an additional 100 shares in the last quarter. Sunbelt Securities Inc. lifted its position in Shopify by 0.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock worth $1,162,000 after buying an additional 105 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. lifted its position in Shopify by 3.3% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock worth $357,000 after buying an additional 107 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Performance

Shares of SHOP stock opened at $117.33 on Monday. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $122.81. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $151.60 billion, a PE ratio of 109.65, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47. The firm has a fifty day simple moving average of $110.91 and a two-hundred day simple moving average of $90.72.

Analyst Upgrades and Downgrades

SHOP has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their target price on shares of Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $130.00 target price on shares of Shopify in a research report on Wednesday, January 22nd. Barclays increased their target price on shares of Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Finally, Piper Sandler raised their price target on shares of Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fourteen 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, the company has an average rating of “Moderate Buy” and an average price target of $101.74.

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.