B & T Capital Management DBA Alpha Capital Management Sells 7,037 Shares of Shopify Inc. (NYSE:SHOP)

B & T Capital Management DBA Alpha Capital Management reduced its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 18.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,186 shares of the software maker's stock after selling 7,037 shares during the quarter. B & T Capital Management DBA Alpha Capital Management's holdings in Shopify were worth $3,316,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of SHOP. Axxcess Wealth Management LLC boosted its position in shares of Shopify by 15.1% in the second quarter. Axxcess Wealth Management LLC now owns 12,469 shares of the software maker's stock worth $824,000 after purchasing an additional 1,633 shares during the period. Wealth Alliance lifted its holdings in shares of Shopify by 26.2% in the 2nd quarter. Wealth Alliance now owns 6,972 shares of the software maker's stock worth $461,000 after acquiring an additional 1,448 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in Shopify by 6.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 57,783 shares of the software maker's stock valued at $3,817,000 after acquiring an additional 3,631 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in Shopify by 0.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 31,858 shares of the software maker's stock valued at $2,094,000 after buying an additional 218 shares during the period. Finally, Ieq Capital LLC grew its position in shares of Shopify by 59.3% during the 2nd quarter. Ieq Capital LLC now owns 37,850 shares of the software maker's stock worth $2,500,000 after buying an additional 14,095 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.

Wall Street Analysts Forecast Growth

SHOP has been the subject of a number of research analyst reports. DZ Bank downgraded Shopify from a "hold" rating to a "sell" rating in a report on Thursday, November 21st. Canaccord Genuity Group lifted their price objective on Shopify from $80.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Scotiabank lifted their price target on shares of Shopify from $75.00 to $80.00 and gave the company a "sector perform" rating in a research report on Thursday, October 24th. Truist Financial increased their target price on shares of Shopify from $65.00 to $110.00 and gave the stock a "hold" rating in a report on Wednesday, November 13th. Finally, Barclays raised their price target on Shopify from $70.00 to $93.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Shopify has a consensus rating of "Moderate Buy" and an average target price of $100.31.

Shopify Trading Down 0.2 %

SHOP stock traded down $0.25 during trading on Friday, reaching $103.25. 5,579,542 shares of the stock traded hands, compared to its average volume of 4,488,373. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The firm has a market capitalization of $133.41 billion, a PE ratio of 96.50, a P/E/G ratio of 2.18 and a beta of 2.46. The business's 50 day moving average price is $109.39 and its 200-day moving average price is $85.70. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $120.72.

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.