RiverPark Advisors LLC Decreases Stock Holdings in Shopify Inc. (NYSE:SHOP)

RiverPark Advisors LLC reduced its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 18.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,936 shares of the software maker’s stock after selling 7,481 shares during the quarter. Shopify accounts for 2.2% of RiverPark Advisors LLC’s portfolio, making the stock its 12th largest position. RiverPark Advisors LLC’s holdings in Shopify were worth $2,720,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group boosted its stake in shares of Shopify by 100.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after purchasing an additional 200 shares during the period. Cultivar Capital Inc. purchased a new position in shares of Shopify in the second quarter valued at $33,000. Hazlett Burt & Watson Inc. purchased a new position in shares of Shopify in the second quarter valued at $33,000. Rosenberg Matthew Hamilton boosted its stake in shares of Shopify by 41.3% in the third 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 period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Shopify in the second quarter valued at $39,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SHOP has been the topic of several recent analyst reports. Barclays upped their price target on shares of Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a report on Wednesday. Redburn Atlantic raised shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price target on the stock in a report on Tuesday, September 17th. Citigroup upped their price target on shares of Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a report on Monday, September 30th. Atb Cap Markets cut shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Evercore ISI increased their target price on shares of Shopify from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $94.95.

Shopify Price Performance

NYSE SHOP opened at $108.49 on Friday. The firm has a market capitalization of $139.99 billion, a price-to-earnings ratio of 101.39, a price-to-earnings-growth ratio of 3.45 and a beta of 2.36. The company has a 50 day simple moving average of $81.97 and a 200-day simple moving average of $71.02. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.10 and a quick ratio of 7.32. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $115.62.

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.