Nomura Asset Management Co. Ltd. Lowers Stock Holdings in Shopify Inc. (NYSE:SHOP)

Nomura Asset Management Co. Ltd. lessened its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 9.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,387 shares of the software maker’s stock after selling 5,578 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Shopify were worth $4,440,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of SHOP. Oliver Lagore Vanvalin Investment Group raised its position in Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after buying an additional 200 shares during the last quarter. Cultivar Capital Inc. purchased a new position in Shopify during the second quarter worth about $33,000. Hazlett Burt & Watson Inc. acquired a new stake in Shopify in the second quarter valued at about $33,000. Brooklyn Investment Group purchased a new stake in Shopify in the 3rd quarter valued at approximately $33,000. Finally, Rosenberg Matthew Hamilton increased its position in Shopify by 41.3% during 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 during the period. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Trading Down 0.6 %

Shares of SHOP stock opened at $114.63 on Friday. The firm’s 50-day simple moving average is $96.14 and its 200-day simple moving average is $77.79. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $120.72. The firm has a market cap of $148.11 billion, a P/E ratio of 107.13, a PEG ratio of 3.05 and a beta of 2.46.

Analyst Ratings Changes

SHOP has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Mizuho upped their price target on shares of Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Scotiabank raised their price objective 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. Loop Capital upgraded shares of Shopify from a “hold” rating to a “buy” rating and upped their target price for the stock from $110.00 to $140.00 in a research report on Friday, December 6th. Finally, Truist Financial increased their target price on shares of Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and an average price target of $99.03.

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.