Jeppson Wealth Management LLC Trims Stock Holdings in Shopify Inc. (NYSE:SHOP)

Jeppson Wealth Management LLC cut its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,227 shares of the software maker’s stock after selling 265 shares during the quarter. Shopify makes up approximately 1.0% of Jeppson Wealth Management LLC’s holdings, making the stock its 19th biggest position. Jeppson Wealth Management LLC’s holdings in Shopify were worth $2,682,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in shares of Shopify in the third quarter worth about $33,000. Rosenberg Matthew Hamilton lifted its holdings in Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares in the last quarter. Truvestments Capital LLC bought a new position in Shopify in the 3rd quarter worth approximately $45,000. GAMMA Investing LLC grew its holdings in Shopify by 73.5% during the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after buying an additional 253 shares in the last quarter. Finally, HM Payson & Co. grew its holdings in Shopify by 37.2% during the 3rd quarter. HM Payson & Co. now owns 686 shares of the software maker’s stock valued at $55,000 after buying an additional 186 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Trading Down 0.3 %

SHOP opened at $107.41 on Tuesday. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $120.72. The stock has a fifty day moving average price of $109.37 and a 200-day moving average price of $87.22. The firm has a market cap of $138.78 billion, a price-to-earnings ratio of 100.38, a PEG ratio of 2.24 and a beta of 2.46. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Mizuho raised their target price 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. New Street Research began coverage on Shopify in a research report on Friday, January 10th. They set a “neutral” rating and a $115.00 price objective for the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $70.00 target price on shares of Shopify in a research report on Monday, October 7th. Robert W. Baird increased their price target on Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Loop Capital raised Shopify from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $110.00 to $140.00 in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and an average target price of $100.32.

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.