Shopify Inc. (NYSE:SHOP) Shares Sold by Legal Advantage Investments Inc.

Legal Advantage Investments Inc. lowered its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 24,210 shares of the software maker’s stock after selling 300 shares during the quarter. Shopify accounts for about 1.4% of Legal Advantage Investments Inc.’s portfolio, making the stock its 28th biggest holding. Legal Advantage Investments Inc.’s holdings in Shopify were worth $2,574,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in SHOP. Trust Co. of Vermont lifted its holdings in Shopify by 9.9% in the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after purchasing an additional 100 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in Shopify by 0.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock valued at $1,162,000 after purchasing an additional 105 shares in the last quarter. Redhawk Wealth Advisors Inc. lifted its holdings in Shopify by 3.3% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock valued at $357,000 after purchasing an additional 107 shares in the last quarter. Moser Wealth Advisors LLC raised its holdings in shares of Shopify by 1.4% during the 3rd quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock worth $755,000 after acquiring an additional 128 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of Shopify by 7.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock worth $159,000 after acquiring an additional 129 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

Shares of NYSE SHOP opened at $103.25 on Tuesday. 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 stock has a 50 day moving average of $109.39 and a two-hundred day moving average of $85.84. The stock has a market cap of $133.41 billion, a P/E ratio of 96.50, a P/E/G ratio of 2.17 and a beta of 2.46.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. JMP Securities reiterated a “market outperform” rating and set a $120.00 price target on shares of Shopify in a report on Thursday, December 12th. Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and lifted their price target for the stock from $110.00 to $140.00 in a report on Friday, December 6th. Piper Sandler raised their price objective on Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Finally, KeyCorp raised their price objective on Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $100.31.

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.