Captrust Financial Advisors Sells 1,211 Shares of Shopify Inc. (NYSE:SHOP)

Captrust Financial Advisors lowered its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 29,092 shares of the software maker’s stock after selling 1,211 shares during the quarter. Captrust Financial Advisors’ holdings in Shopify were worth $2,331,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group increased its holdings in Shopify by 100.0% during the 2nd 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 period. Cultivar Capital Inc. acquired a new stake in Shopify during the 2nd quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. purchased a new stake in shares of Shopify in the 2nd quarter valued at $33,000. Brooklyn Investment Group acquired a new stake in shares of Shopify in the third quarter worth $33,000. Finally, Rosenberg Matthew Hamilton raised its holdings in shares of Shopify by 41.3% during the third 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 last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SHOP has been the topic of several analyst reports. Argus raised Shopify to a “strong-buy” rating in a research report on Thursday, August 8th. Canaccord Genuity Group raised their target price on Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. DZ Bank downgraded Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Wells Fargo & Company raised their price objective on shares of Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Oppenheimer increased their price objective on shares of Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.84.

Shopify Trading Up 0.6 %

Shares of NYSE:SHOP opened at $114.08 on Friday. The company has a 50 day moving average of $91.80 and a 200-day moving average of $75.37. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The firm has a market cap of $147.40 billion, a P/E ratio of 106.62, a P/E/G ratio of 2.94 and a beta of 2.46. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $116.35.

Shopify 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.