Octavia Wealth Advisors LLC Sells 271 Shares of Shopify Inc. (NYSE:SHOP)

Octavia Wealth Advisors LLC decreased its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 5,296 shares of the software maker’s stock after selling 271 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Shopify were worth $563,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Baillie Gifford & Co. lifted its position in 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 increased its stake in Shopify by 16.1% in the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after buying an additional 5,869,795 shares during the last quarter. Legal & General Group Plc increased its stake in Shopify by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 8,233,517 shares of the software maker’s stock valued at $544,017,000 after buying an additional 145,618 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Shopify by 6.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker’s stock valued at $658,248,000 after buying an additional 484,561 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in Shopify by 28.0% in the 3rd quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after buying an additional 1,621,981 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Up 3.0 %

Shares of NYSE:SHOP opened at $106.44 on Wednesday. Shopify Inc. has a one year low of $48.56 and a one year high of $120.72. 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 company has a market cap of $137.54 billion, a price-to-earnings ratio of 99.48, a PEG ratio of 2.17 and a beta of 2.46. The firm has a fifty day moving average price of $109.65 and a two-hundred day moving average price of $86.09.

Analysts Set New Price Targets

Several equities research analysts have commented on SHOP shares. Oppenheimer increased their price objective on shares of Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Scotiabank increased 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. Moffett Nathanson raised their price target on shares of Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Finally, Robert W. Baird raised their price target on shares of Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $100.31.

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.