Regatta Capital Group LLC Sells 850 Shares of Shopify Inc. (NYSE:SHOP)

Regatta Capital Group LLC decreased its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 15.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,793 shares of the software maker’s stock after selling 850 shares during the period. Regatta Capital Group LLC’s holdings in Shopify were worth $510,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Baillie Gifford & Co. boosted its position 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 worth $5,078,176,000 after purchasing an additional 8,131,160 shares in the last quarter. FMR LLC grew 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 worth $3,389,637,000 after acquiring an additional 5,869,795 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Shopify by 1.8% during the second quarter. Legal & General Group Plc now owns 8,233,517 shares of the software maker’s stock valued at $544,017,000 after acquiring an additional 145,618 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Shopify by 6.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker’s stock valued at $658,248,000 after purchasing an additional 484,561 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in 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 in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SHOP has been the topic of a number of research analyst reports. Piper Sandler boosted their price objective on shares of Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Citigroup upped their target price on Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Royal Bank of Canada reissued an “outperform” rating and set a $130.00 price target on shares of Shopify in a research report on Wednesday. Canaccord Genuity Group upped their price objective on shares of Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Scotiabank raised their target price on shares of Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $100.31.

Shopify Trading Up 1.5 %

Shares of SHOP stock opened at $107.74 on Friday. 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 company’s 50-day moving average price is $109.37 and its 200-day moving average price is $86.92. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $120.72. The stock has a market cap of $139.22 billion, a price-to-earnings ratio of 100.70, a PEG ratio of 2.24 and a beta of 2.46.

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.