Shopify Inc. (NYSE:SHOP) Shares Sold by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC cut its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 76.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,503 shares of the software maker's stock after selling 30,123 shares during the period. Icon Wealth Advisors LLC's holdings in Shopify were worth $762,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SHOP. Moser Wealth Advisors LLC increased its position in shares of Shopify by 1.4% during the 3rd quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker's stock worth $755,000 after purchasing an additional 128 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of Shopify by 7.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker's stock worth $159,000 after purchasing an additional 129 shares in the last quarter. Rosenberg Matthew Hamilton lifted its holdings in shares of Shopify by 41.3% in 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 last quarter. CVA Family Office LLC boosted its position in shares of Shopify by 11.8% in the 3rd quarter. CVA Family Office LLC now owns 1,354 shares of the software maker's stock valued at $109,000 after purchasing an additional 143 shares during the period. Finally, Twin Peaks Wealth Advisors LLC grew its stake in Shopify by 3.5% during the 3rd quarter. Twin Peaks Wealth Advisors LLC now owns 4,282 shares of the software maker's stock worth $343,000 after buying an additional 145 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Up 0.5 %

NYSE SHOP traded up $0.48 during trading hours on Friday, hitting $106.96. The company had a trading volume of 7,059,852 shares, compared to its average volume of 10,840,070. The firm's 50 day moving average is $85.50 and its 200 day moving average is $72.15. The company has a market capitalization of $138.02 billion, a price-to-earnings ratio of 99.96, a P/E/G ratio of 2.80 and a beta of 2.36. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $115.62. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SHOP. 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 note on Wednesday, November 13th. Atb Cap Markets cut Shopify from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, November 12th. UBS Group increased their price target on Shopify from $71.00 to $75.00 and gave the stock a "neutral" rating in a report on Thursday, August 8th. Argus raised shares of Shopify to a "strong-buy" rating in a research note on Thursday, August 8th. Finally, Scotiabank raised their target price on shares of Shopify from $75.00 to $80.00 and gave the stock a "sector perform" rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Shopify currently has an average rating of "Moderate Buy" and a consensus price target of $94.95.

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.