FFT Wealth Management LLC trimmed its position in shares of Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) by 26.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,700 shares of the software maker’s stock after selling 1,350 shares during the quarter. FFT Wealth Management LLC’s holdings in Shopify were worth $288,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of SHOP. StoneCrest Wealth Management Inc. purchased a new stake in Shopify during the 4th quarter worth approximately $1,164,000. Asset Management One Co. Ltd. grew its position in shares of Shopify by 4,007.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 35,488 shares of the software maker’s stock valued at $2,807,000 after acquiring an additional 34,624 shares during the period. SeaCrest Wealth Management LLC purchased a new stake in shares of Shopify in the fourth quarter valued at approximately $433,000. Bleakley Financial Group LLC raised its position in Shopify by 18.5% during the fourth quarter. Bleakley Financial Group LLC now owns 10,778 shares of the software maker’s stock worth $840,000 after acquiring an additional 1,681 shares during the period. Finally, Advisor Resource Council purchased a new position in Shopify in the 4th quarter valued at about $1,488,000. 69.27% of the stock is currently owned by institutional investors.
Shopify Trading Up 0.3 %
Shares of Shopify stock traded up $0.18 on Wednesday, reaching $70.38. 7,434,623 shares of the company were exchanged, compared to its average volume of 9,309,511. Shopify Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $91.57. The firm has a market capitalization of $90.55 billion, a price-to-earnings ratio of 782.09 and a beta of 2.22. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.10. The stock has a fifty day moving average price of $74.83 and a 200-day moving average price of $73.00.
Analyst Ratings Changes
SHOP has been the subject of a number of recent research reports. National Bankshares increased their price objective on shares of Shopify from $80.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Robert W. Baird upped their price objective on Shopify from $85.00 to $87.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. The Goldman Sachs Group raised their price target on Shopify from $67.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. Wedbush reissued a “neutral” rating and issued a $68.00 target price on shares of Shopify in a report on Tuesday, February 13th. Finally, Jefferies Financial Group raised their target price on Shopify from $65.00 to $80.00 and gave the company a “hold” rating in a report on Friday, January 5th. Three investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $78.62.
View Our Latest Report on SHOP
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.
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