International Assets Investment Management LLC decreased its position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 98.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,316 shares of the software maker's stock after selling 1,127,599 shares during the quarter. International Assets Investment Management LLC's holdings in Shopify were worth $1,539,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. One Wealth Capital Management LLC acquired a new stake in Shopify during the fourth quarter worth about $1,281,000. Diversified Trust Co acquired a new stake in shares of Shopify during the 4th quarter worth approximately $279,000. CWA Asset Management Group LLC lifted its holdings in shares of Shopify by 3.6% in the 4th quarter. CWA Asset Management Group LLC now owns 4,282 shares of the software maker's stock worth $455,000 after purchasing an additional 148 shares during the last quarter. Modus Advisors LLC acquired a new position in Shopify during the 4th quarter valued at approximately $64,000. Finally, DGS Capital Management LLC grew its stake in Shopify by 15.0% during the 3rd quarter. DGS Capital Management LLC now owns 3,536 shares of the software maker's stock worth $283,000 after buying an additional 460 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on SHOP shares. The Goldman Sachs Group boosted their price target on Shopify from $88.00 to $135.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. JMP Securities reissued a "market outperform" rating and issued a $120.00 price objective on shares of Shopify in a research note on Thursday, December 12th. DZ Bank lowered shares of Shopify from a "hold" rating to a "sell" rating in a research report on Thursday, November 21st. Moffett Nathanson upped their price target on Shopify from $86.00 to $99.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. Finally, Wells Fargo & Company raised their price objective on Shopify from $90.00 to $120.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $99.88.
Get Our Latest Research Report on Shopify
Shopify Stock Up 0.9 %
Shopify stock traded up $0.96 during midday trading on Thursday, hitting $107.74. 5,183,146 shares of the stock were exchanged, compared to its average volume of 5,161,610. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $120.72. 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 business's 50-day moving average price is $106.86 and its 200-day moving average price is $83.99. The stock has a market capitalization of $139.21 billion, a price-to-earnings ratio of 100.69, a price-to-earnings-growth ratio of 2.98 and a beta of 2.46.
About Shopify
(
Free Report)
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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