Strengthening Families & Communities LLC Sells 882 Shares of Shopify Inc. (NYSE:SHOP)

Strengthening Families & Communities LLC lessened its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 22.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,099 shares of the software maker’s stock after selling 882 shares during the period. Strengthening Families & Communities LLC’s holdings in Shopify were worth $330,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of SHOP. Baillie Gifford & Co. increased its stake in shares of Shopify by 14.7% in the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after acquiring an additional 8,131,160 shares in the last quarter. FMR LLC grew its holdings in Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after purchasing an additional 5,869,795 shares during the period. The Manufacturers Life Insurance Company increased its stake in Shopify by 6.3% in the third quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker’s stock valued at $658,248,000 after purchasing an additional 484,561 shares in the last quarter. National Bank of Canada FI increased its stake in Shopify by 28.0% in the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after purchasing an additional 1,621,981 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Shopify by 9.6% during the third quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker’s stock valued at $432,573,000 after purchasing an additional 471,280 shares during the period. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Up 2.1 %

SHOP stock opened at $119.88 on Tuesday. The stock has a fifty day moving average of $110.91 and a 200-day moving average of $90.95. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $123.41. The company has a market capitalization of $154.89 billion, a price-to-earnings ratio of 112.04, a PEG ratio of 2.49 and a beta of 2.47. 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 Analysts Forecast Growth

A number of analysts recently commented on SHOP shares. Canaccord Genuity Group boosted their target price on Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Moffett Nathanson boosted their price objective on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. DZ Bank cut Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Scotiabank boosted their price target on shares of Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, October 24th. Finally, Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and raised their price objective for the company from $110.00 to $140.00 in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.74.

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.