MSA Advisors LLC Sells 13,690 Shares of Shopify Inc. (NYSE:SHOP)

MSA Advisors LLC cut its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 41.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,500 shares of the software maker's stock after selling 13,690 shares during the period. Shopify comprises approximately 0.4% of MSA Advisors LLC's portfolio, making the stock its 14th largest position. MSA Advisors LLC's holdings in Shopify were worth $1,563,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group lifted its stake in Shopify by 100.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker's stock worth $26,000 after purchasing an additional 200 shares during the last quarter. Cultivar Capital Inc. bought a new stake in Shopify in the second quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. purchased a new stake in shares of Shopify during the second quarter valued at approximately $33,000. Rosenberg Matthew Hamilton grew its holdings in Shopify by 41.3% in 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 during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Shopify during the second quarter valued at about $39,000. Hedge funds and other institutional investors own 69.27% of the company's stock.

Shopify Price Performance

Shares of NYSE SHOP traded up $4.04 during midday trading on Monday, reaching $111.00. The stock had a trading volume of 9,941,605 shares, compared to its average volume of 9,339,678. The company has a market capitalization of $143.23 billion, a price-to-earnings ratio of 102.27, a price-to-earnings-growth ratio of 2.81 and a beta of 2.36. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $115.62. The stock has a 50-day moving average of $85.50 and a 200-day moving average of $72.18. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wedbush restated a "neutral" rating and set a $115.00 price target (up previously from $72.00) on shares of Shopify in a report on Tuesday, November 12th. Scotiabank lifted their target price on shares of Shopify from $75.00 to $80.00 and gave the company a "sector perform" rating in a research note on Thursday, October 24th. Evercore raised their price objective on shares of Shopify from $75.00 to $80.00 in a report on Thursday, August 8th. Oppenheimer raised their price objective on Shopify from $90.00 to $130.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Finally, Truist Financial lifted their target price on shares of Shopify from $65.00 to $110.00 and gave the company a "hold" rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.