V2 Financial group LLC Sells 314 Shares of Shopify Inc. (NYSE:SHOP)

V2 Financial group LLC reduced its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 26,252 shares of the software maker’s stock after selling 314 shares during the period. Shopify makes up 1.4% of V2 Financial group LLC’s investment portfolio, making the stock its 14th biggest position. V2 Financial group LLC’s holdings in Shopify were worth $2,104,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Oliver Lagore Vanvalin Investment Group boosted its stake in Shopify by 100.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after buying an additional 200 shares in the last quarter. Rosenberg Matthew Hamilton raised 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 worth $36,000 after acquiring an additional 133 shares in the last quarter. Cultivar Capital Inc. bought a new stake in shares of Shopify in the 2nd quarter worth approximately $33,000. Hazlett Burt & Watson Inc. purchased a new stake in shares of Shopify in the 2nd quarter valued at $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Shopify in the 2nd quarter valued at $39,000. 69.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on SHOP shares. Evercore ISI boosted their price target on shares of Shopify from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Truist Financial lowered their price objective on Shopify from $65.00 to $55.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Citigroup upped their price target on shares of Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a report on Monday, September 30th. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Finally, Wells Fargo & Company upped their price objective on shares of Shopify from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-three have assigned 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 an average target price of $81.03.

Shopify Trading Up 3.3 %

NYSE:SHOP opened at $89.99 on Tuesday. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $92.16. The stock has a market cap of $116.12 billion, a price-to-earnings ratio of 91.83, a PEG ratio of 2.91 and a beta of 2.36. The company’s 50 day moving average price is $78.73 and its 200-day moving average price is $69.92. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10.

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.