Shopify Inc. (NYSE:SHOP) Shares Sold by Grandview Asset Management LLC

Grandview Asset Management LLC reduced its stake in shares of Shopify Inc. (NYSE:SHOPFree Report) (TSE:SHOP) by 3.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,970 shares of the software maker’s stock after selling 440 shares during the quarter. Grandview Asset Management LLC’s holdings in Shopify were worth $855,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Snowden Capital Advisors LLC increased its stake in shares of Shopify by 7.8% during the second quarter. Snowden Capital Advisors LLC now owns 30,211 shares of the software maker’s stock worth $1,952,000 after purchasing an additional 2,180 shares in the last quarter. Angeles Investment Advisors LLC acquired a new position in Shopify in the 3rd quarter valued at about $427,000. IFP Advisors Inc lifted its holdings in shares of Shopify by 244.8% in the 4th quarter. IFP Advisors Inc now owns 28,384 shares of the software maker’s stock worth $2,211,000 after acquiring an additional 20,152 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Shopify in the 3rd quarter worth approximately $15,170,000. Finally, Cidel Asset Management Inc. increased its stake in Shopify by 0.9% during the 3rd quarter. Cidel Asset Management Inc. now owns 841,328 shares of the software maker’s stock worth $46,136,000 after buying an additional 7,324 shares during the period. 60.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SHOP. Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 price objective on shares of Shopify in a research report on Wednesday, February 14th. DA Davidson increased their target price on shares of Shopify from $86.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. ATB Capital increased their price target on shares of Shopify from $105.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 14th. Jefferies Financial Group increased their price target on shares of Shopify from $65.00 to $80.00 and gave the stock a “hold” rating in a research note on Friday, January 5th. Finally, Truist Financial increased their price target on shares of Shopify from $65.00 to $90.00 and gave the stock a “hold” rating in a research note on Monday, February 12th. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $76.42.

Read Our Latest Research Report on SHOP

Shopify Stock Up 4.9 %

Shares of NYSE:SHOP traded up $3.80 during midday trading on Wednesday, reaching $81.33. The company had a trading volume of 6,749,697 shares, compared to its average volume of 10,264,740. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. The stock’s fifty day moving average price is $79.57 and its 200-day moving average price is $69.57. The stock has a market capitalization of $104.64 billion, a P/E ratio of 903.67 and a beta of 2.22. Shopify Inc. has a one year low of $43.50 and a one year high of $91.57.

Shopify (NYSE:SHOPGet Free Report) (TSE:SHOP) last announced its earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.22 by $0.04. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Equities research analysts expect that Shopify Inc. will post 0.57 earnings per share for the current fiscal year.

Shopify Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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