Congress Park Capital LLC Decreases Holdings in Shopify Inc. (NYSE:SHOP)

Congress Park Capital LLC reduced its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.7% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,875 shares of the software maker’s stock after selling 425 shares during the quarter. Congress Park Capital LLC’s holdings in Shopify were worth $625,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group increased its position 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 during the last quarter. Brooklyn Investment Group bought a new position in shares of Shopify during the 3rd quarter worth $33,000. Rosenberg Matthew Hamilton grew its stake in shares of Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after acquiring an additional 133 shares during the period. Truvestments Capital LLC purchased a new stake in Shopify in the 3rd quarter worth about $45,000. Finally, GAMMA Investing LLC raised its stake in Shopify by 73.5% in the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after acquiring an additional 253 shares during the period. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 0.7 %

Shares of SHOP opened at $103.47 on Friday. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $120.72. The firm has a market cap of $133.70 billion, a price-to-earnings ratio of 96.71, a PEG ratio of 2.18 and a beta of 2.46. The firm has a 50 day moving average price of $108.71 and a 200-day moving average price of $85.17. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SHOP shares. Scotiabank increased their target price 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. Truist Financial raised their price objective on shares of Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, November 13th. Citigroup boosted their target price on shares of Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a report on Monday, September 30th. Piper Sandler raised their price target on Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Finally, JMP Securities reiterated a “market outperform” rating and set a $120.00 price objective on shares of Shopify in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and an average target price of $100.31.

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.