Shopify Inc. (NYSE:SHOP) Shares Sold by Nepsis Inc.

Nepsis Inc. trimmed its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 72.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 89,444 shares of the software maker’s stock after selling 233,815 shares during the quarter. Shopify comprises approximately 1.4% of Nepsis Inc.’s portfolio, making the stock its 18th biggest position. Nepsis Inc.’s holdings in Shopify were worth $9,511,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Oliver Lagore Vanvalin Investment Group lifted its holdings in shares of Shopify by 100.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Shopify in the third quarter valued at approximately $33,000. Rosenberg Matthew Hamilton boosted its holdings 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. Truvestments Capital LLC purchased a new position in shares of Shopify during the third quarter worth approximately $45,000. Finally, GAMMA Investing LLC raised its position 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 purchasing an additional 253 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SHOP shares. Mizuho lifted their price objective on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Atb Cap Markets cut Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group increased their price objective on Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Piper Sandler boosted their target price on Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Finally, Barclays increased their price target on Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and a consensus price target of $100.31.

Shopify Stock Performance

Shares of SHOP opened at $107.74 on Friday. The company has a market capitalization of $139.22 billion, a price-to-earnings ratio of 100.70, a PEG ratio of 2.24 and a beta of 2.46. 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 Inc. has a 1 year low of $48.56 and a 1 year high of $120.72. The company’s 50 day simple moving average is $109.38 and its 200 day simple moving average is $86.64.

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.