MWA Asset Management Sells 361 Shares of Shopify Inc. (NYSE:SHOP)

MWA Asset Management reduced its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 11,202 shares of the software maker’s stock after selling 361 shares during the period. MWA Asset Management’s holdings in Shopify were worth $1,191,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SHOP. New Wave Wealth Advisors LLC purchased a new stake in Shopify during the 4th quarter worth about $39,000. Mather Group LLC. increased its position in shares of Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after buying an additional 184 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Shopify in the third quarter worth about $33,000. Rosenberg Matthew Hamilton boosted its position in shares of Shopify by 41.3% in 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 purchased a new position in Shopify during the fourth quarter valued at approximately $55,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SHOP. Canaccord Genuity Group increased their target price on shares of Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. DZ Bank downgraded Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Wells Fargo & Company boosted their target price on Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Barclays raised their price target on Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. Finally, Scotiabank upped their price objective on shares of Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $100.32.

Shopify Trading Down 1.1 %

NYSE SHOP opened at $117.33 on Friday. The stock has a market cap of $151.60 billion, a P/E ratio of 109.65, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $122.81. The stock has a 50 day simple moving average of $110.88 and a two-hundred day simple moving average of $90.15. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10.

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.