Y.D. More Investments Ltd Sells 720 Shares of Shopify Inc. (NYSE:SHOP)

Y.D. More Investments Ltd cut its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 18.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,161 shares of the software maker’s stock after selling 720 shares during the quarter. Y.D. More Investments Ltd’s holdings in Shopify were worth $336,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SHOP. Brooklyn Investment Group purchased a new position in shares of Shopify in the 3rd quarter worth $33,000. Rosenberg Matthew Hamilton lifted its holdings in 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. New Wave Wealth Advisors LLC purchased a new position in Shopify in the fourth quarter worth about $39,000. Mather Group LLC. increased its position in shares of Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after purchasing an additional 184 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new stake in shares of Shopify during the 3rd quarter valued at about $45,000. 69.27% of the stock is owned by institutional investors.

Shopify Stock Performance

Shopify stock opened at $121.89 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The firm has a market capitalization of $157.49 billion, a P/E ratio of 113.91, a price-to-earnings-growth ratio of 2.46 and a beta of 2.47. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $122.00. The company’s 50-day moving average is $110.57 and its 200 day moving average is $89.73.

Analysts Set New Price Targets

SHOP has been the topic of a number of research reports. KeyCorp raised their price objective on shares of Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Oppenheimer boosted their price objective on shares of Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Scotiabank lifted their target price on Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, October 24th. Barclays upped their price target on Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group lifted their price objective on Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and a consensus price target of $100.32.

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.