Shopify Inc. (NYSE:SHOP) Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. lessened its position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 9.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 55,387 shares of the software maker's stock after selling 5,578 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Shopify were worth $4,440,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SHOP. Moser Wealth Advisors LLC grew its stake in shares of Shopify by 1.4% in the third quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker's stock worth $755,000 after acquiring an additional 128 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in Shopify by 7.0% during the 3rd 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 increased its holdings in 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 purchasing an additional 133 shares during the period. CVA Family Office LLC raised its position in 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 in the last quarter. Finally, Twin Peaks Wealth Advisors LLC boosted 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 buying an additional 145 shares during the period. Institutional investors and hedge funds own 69.27% of the company's stock.

Shopify Price Performance

SHOP stock traded down $0.68 on Friday, reaching $114.63. 4,667,226 shares of the company's stock were exchanged, compared to its average volume of 9,205,084. The stock has a fifty day moving average of $96.14 and a 200-day moving average of $77.79. The firm has a market cap of $148.11 billion, a PE ratio of 107.13, a P/E/G ratio of 3.05 and a beta of 2.46. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $120.72.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Mizuho upped their target price on shares of Shopify from $68.00 to $105.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 13th. The Goldman Sachs Group increased their price objective on shares of Shopify from $88.00 to $135.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Loop Capital raised shares of Shopify from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $110.00 to $140.00 in a research report on Friday, December 6th. Moffett Nathanson increased their target price on Shopify from $86.00 to $99.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. Finally, Piper Sandler lifted their price target on Shopify from $67.00 to $94.00 and gave the stock a "neutral" rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $99.03.

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.