Shopify Inc. (NYSE:SHOP) Shares Sold by Winthrop Advisory Group LLC

Winthrop Advisory Group LLC decreased its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,070 shares of the software maker’s stock after selling 255 shares during the quarter. Winthrop Advisory Group LLC’s holdings in Shopify were worth $539,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Baillie Gifford & Co. increased its stake in shares of Shopify by 14.7% in the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after purchasing an additional 8,131,160 shares during the period. FMR LLC increased its stake in shares of Shopify by 16.1% during the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after acquiring an additional 5,869,795 shares during the period. Mackenzie Financial Corp increased its stake in shares of Shopify by 49.9% during the second quarter. Mackenzie Financial Corp now owns 6,315,028 shares of the software maker’s stock valued at $417,386,000 after acquiring an additional 2,102,939 shares during the period. Clearbridge Investments LLC increased its stake in shares of Shopify by 54.2% during the second quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock valued at $311,404,000 after acquiring an additional 1,657,251 shares during the period. Finally, National Bank of Canada FI increased its stake in shares of Shopify by 28.0% during the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after acquiring an additional 1,621,981 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

SHOP has been the topic of a number of research analyst reports. Citigroup raised their price objective on shares of Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, September 30th. JMP Securities reiterated a “market outperform” rating and set a $120.00 price objective on shares of Shopify in a research note on Thursday, December 12th. Mizuho raised their price objective on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. New Street Research initiated coverage on shares of Shopify in a research note on Friday. They set a “neutral” rating and a $115.00 price objective on the stock. Finally, Atb Cap Markets cut shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $100.31.

Shopify Stock Performance

Shopify stock traded down $3.05 on Monday, reaching $100.66. 1,564,369 shares of the stock were exchanged, compared to its average volume of 5,105,549. The stock has a market cap of $130.06 billion, a PE ratio of 94.08, a PEG ratio of 2.98 and a beta of 2.46. The company has a current ratio of 7.10, a quick 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. The firm has a fifty day moving average price of $107.35 and a two-hundred day moving average price of $84.54.

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.