Shopify Inc. (NYSE:SHOP) Stake Reduced by Woodward Diversified Capital LLC

Woodward Diversified Capital LLC lessened its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 9.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,035 shares of the software maker’s stock after selling 1,535 shares during the period. Shopify makes up 1.2% of Woodward Diversified Capital LLC’s portfolio, making the stock its 13th biggest position. Woodward Diversified Capital LLC’s holdings in Shopify were worth $1,599,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. New Wave Wealth Advisors LLC acquired a new stake in Shopify in the fourth quarter worth about $39,000. Mather Group LLC. lifted its stake in shares of Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after acquiring an additional 184 shares during the period. Brooklyn Investment Group bought a new position in shares of Shopify in the third quarter valued at approximately $33,000. Rosenberg Matthew Hamilton increased its stake in shares of Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after acquiring an additional 133 shares during the period. Finally, Synergy Asset Management LLC bought a new stake in Shopify during the fourth quarter worth approximately $55,000. 69.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SHOP has been the subject of a number of research reports. Barclays increased their price target on Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. KeyCorp lifted their target price on Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Piper Sandler upped their price target on shares of Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Mizuho lifted their price objective on shares of Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Finally, JMP Securities reissued a “market outperform” rating and set a $120.00 target price on shares of Shopify in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and an average target price of $100.32.

Shopify Stock Down 1.1 %

Shares of Shopify stock opened at $117.33 on Friday. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $122.81. The stock has a 50 day moving average price of $110.88 and a two-hundred day moving average price of $90.15. 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 stock has a market capitalization of $151.60 billion, a P/E ratio of 109.65, a PEG ratio of 2.49 and a beta of 2.47.

About Shopify

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.