Shopify Inc. (NYSE:SHOP) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC cut its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 19.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,168 shares of the software maker's stock after selling 6,922 shares during the quarter. Intech Investment Management LLC's holdings in Shopify were worth $2,259,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Moser Wealth Advisors LLC boosted its holdings in Shopify by 1.4% during the third quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker's stock worth $755,000 after buying an additional 128 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of Shopify by 7.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker's stock worth $159,000 after acquiring an additional 129 shares during the period. Rosenberg Matthew Hamilton boosted its stake in shares of Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker's stock worth $36,000 after acquiring an additional 133 shares in the last quarter. CVA Family Office LLC grew its position in shares of Shopify by 11.8% during the 3rd quarter. CVA Family Office LLC now owns 1,354 shares of the software maker's stock valued at $109,000 after acquiring an additional 143 shares during the period. Finally, Twin Peaks Wealth Advisors LLC increased its stake in shares of Shopify by 3.5% in the 3rd quarter. Twin Peaks Wealth Advisors LLC now owns 4,282 shares of the software maker's stock valued at $343,000 after purchasing an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.

Shopify Trading Up 3.8 %

NYSE:SHOP traded up $4.07 on Monday, reaching $111.03. 10,115,459 shares of the company's stock were exchanged, compared to its average volume of 9,340,399. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $143.27 billion, a price-to-earnings ratio of 103.77, a price-to-earnings-growth ratio of 2.81 and a beta of 2.36. The business has a fifty day moving average of $86.25 and a 200-day moving average of $72.53. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $115.62.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SHOP shares. Redburn Atlantic upgraded Shopify from a "neutral" rating to a "buy" rating and set a $99.00 price target on the stock in a research report on Tuesday, September 17th. Argus raised shares of Shopify to a "strong-buy" rating in a report on Thursday, August 8th. Morgan Stanley boosted their target price on shares of Shopify from $80.00 to $85.00 and gave the stock an "overweight" rating in a research note on Thursday, August 8th. Roth Mkm upped their price target on shares of Shopify from $77.00 to $79.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. Finally, Loop Capital raised their target price on Shopify from $80.00 to $90.00 and gave the company a "hold" rating in a research report on Wednesday, October 9th. 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $94.95.

Shopify Company 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.