Arkadios Wealth Advisors Has $1.39 Million Stock Position in Shopify Inc. (NYSE:SHOP)

Arkadios Wealth Advisors lessened its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,026 shares of the software maker’s stock after selling 460 shares during the quarter. Arkadios Wealth Advisors’ holdings in Shopify were worth $1,385,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Baillie Gifford & Co. increased its stake in shares of Shopify by 14.7% in the 3rd 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 last quarter. FMR LLC grew its position in Shopify by 16.1% in 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 last quarter. Legal & General Group Plc raised its stake in Shopify by 1.8% during the second quarter. Legal & General Group Plc now owns 8,233,517 shares of the software maker’s stock worth $544,017,000 after acquiring an additional 145,618 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Shopify by 6.3% in the third quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker’s stock worth $658,248,000 after acquiring an additional 484,561 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in shares of Shopify by 28.0% during the 3rd quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after purchasing an additional 1,621,981 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 0.2 %

NYSE SHOP opened at $103.25 on Monday. The stock has a market capitalization of $133.41 billion, a price-to-earnings ratio of 96.50, a PEG ratio of 2.18 and a beta of 2.46. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. Shopify Inc. has a one year low of $48.56 and a one year high of $120.72. The business’s fifty day moving average is $109.39 and its 200-day moving average is $85.70.

Wall Street Analyst Weigh In

SHOP has been the subject of several research reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $70.00 price objective on shares of Shopify in a research note on Monday, October 7th. The Goldman Sachs Group raised their price objective on Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Citigroup upped their target price on Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, September 30th. New Street Research initiated coverage on Shopify in a report on Friday, January 10th. They set a “neutral” rating and a $115.00 price target on the stock. Finally, Atb Cap Markets lowered shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.31.

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.