Brown Capital Management LLC Lowers Stock Holdings in Shopify Inc. (NYSE:SHOP)

Brown Capital Management LLC lowered its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 478,449 shares of the software maker’s stock after selling 33,511 shares during the period. Brown Capital Management LLC’s holdings in Shopify were worth $38,343,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Barclays lifted their price objective on shares of Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Argus raised Shopify to a “strong-buy” rating in a research note on Thursday, August 8th. UBS Group increased their price target on Shopify from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Canaccord Genuity Group increased their target price on shares of Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Atb Cap Markets lowered Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Shopify has an average rating of “Moderate Buy” and a consensus target price of $94.95.

Shopify Stock Down 0.6 %

SHOP stock opened at $103.97 on Thursday. The company has a market capitalization of $134.16 billion, a P/E ratio of 97.17, a price-to-earnings-growth ratio of 3.09 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 firm’s fifty day simple moving average is $84.11 and its 200-day simple moving average is $71.71. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10.

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.