Stifel Financial Corp Sells 583 Shares of Shopify Inc. (NYSE:SHOP)

Stifel Financial Corp lessened its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.2% in the third quarter, HoldingsChannel reports. The fund owned 356,721 shares of the software maker’s stock after selling 583 shares during the period. Stifel Financial Corp’s holdings in Shopify were worth $28,588,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group boosted its stake in 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 period. Brooklyn Investment Group acquired a new position in shares of Shopify in the third quarter valued at about $33,000. Rosenberg Matthew Hamilton increased its position in Shopify by 41.3% during the third 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. Cultivar Capital Inc. bought a new position in Shopify during the second quarter worth about $33,000. Finally, Hazlett Burt & Watson Inc. acquired a new stake in Shopify in the 2nd quarter worth about $33,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on SHOP. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $70.00 target price on shares of Shopify in a report on Monday, October 7th. The Goldman Sachs Group raised their price objective on Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Royal Bank of Canada upped their target price on Shopify from $100.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Citigroup raised their price target on Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Scotiabank upped their price objective 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. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $98.08.

Shopify Stock Up 3.8 %

SHOP opened at $118.37 on Monday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $120.72. The company’s 50-day moving average price is $92.58 and its two-hundred day moving average price is $76.03. The stock has a market cap of $152.95 billion, a price-to-earnings ratio of 110.63, a PEG ratio of 2.97 and a beta of 2.46. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09.

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.