Revolve Wealth Partners LLC Has $873,000 Holdings in Shopify Inc. (NYSE:SHOP)

Revolve Wealth Partners LLC trimmed its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 52.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,209 shares of the software maker’s stock after selling 9,138 shares during the period. Revolve Wealth Partners LLC’s holdings in Shopify were worth $873,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Brooklyn Investment Group bought a new stake in shares of Shopify during the third quarter worth $33,000. Rosenberg Matthew Hamilton increased its position in Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after acquiring an additional 133 shares in the last quarter. Truvestments Capital LLC bought a new position in shares of Shopify in the third quarter worth about $45,000. GAMMA Investing LLC lifted its position in shares of Shopify by 73.5% during the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock worth $48,000 after purchasing an additional 253 shares in the last quarter. Finally, Modus Advisors LLC bought a new stake in shares of Shopify during the fourth quarter valued at approximately $64,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Oppenheimer boosted their price objective on shares of Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. JMP Securities restated a “market outperform” rating and set a $120.00 target price on shares of Shopify in a research report on Thursday, December 12th. Wells Fargo & Company lifted their price objective on Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group upped their target price on shares of Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Canaccord Genuity Group lifted their price target on shares of Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.32.

Shopify Trading Down 0.3 %

Shares of Shopify stock opened at $107.41 on Tuesday. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $120.72. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The business’s 50 day moving average is $109.37 and its 200-day moving average is $87.22. The stock has a market cap of $138.78 billion, a P/E ratio of 100.38, a P/E/G 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.