Chicago Partners Investment Group LLC Sells 4,112 Shares of Shopify Inc. (NYSE:SHOP)

Chicago Partners Investment Group LLC decreased its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 17.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 19,671 shares of the software maker’s stock after selling 4,112 shares during the period. Chicago Partners Investment Group LLC’s holdings in Shopify were worth $2,117,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. New Wave Wealth Advisors LLC purchased a new position in Shopify during the fourth quarter valued at approximately $39,000. Brooklyn Investment Group purchased a new stake in Shopify during the third quarter worth $33,000. Rosenberg Matthew Hamilton boosted its position in Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after acquiring an additional 133 shares in the last quarter. Synergy Asset Management LLC purchased a new position in shares of Shopify in the 4th quarter valued at $55,000. Finally, Truvestments Capital LLC bought a new position in shares of Shopify in the 3rd quarter worth $45,000. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

NYSE SHOP opened at $116.70 on Friday. The stock has a market cap of $150.79 billion, a PE ratio of 109.07, a P/E/G ratio of 2.45 and a beta of 2.46. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $122.00. The stock has a fifty day simple moving average of $110.36 and a 200-day simple moving average of $88.67. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SHOP shares. DZ Bank downgraded Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Robert W. Baird increased their price objective on shares of Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $130.00 price target on shares of Shopify in a research report on Wednesday, January 22nd. Barclays raised their price objective on Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Finally, Piper Sandler increased their price target on shares of Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Shopify presently has an average rating of “Moderate Buy” and an average target price of $100.32.

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.