Avior Wealth Management LLC Sells 3,025 Shares of Shopify Inc. (NYSE:SHOP)

Avior Wealth Management LLC trimmed its position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 22.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,262 shares of the software maker's stock after selling 3,025 shares during the period. Avior Wealth Management LLC's holdings in Shopify were worth $980,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SHOP. Tallon Kerry Patrick bought a new stake in Shopify during the 4th quarter worth approximately $230,000. Brighton Jones LLC increased its stake in Shopify by 2.8% during the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker's stock worth $2,252,000 after purchasing an additional 584 shares in the last quarter. Kestra Investment Management LLC bought a new stake in Shopify during the 4th quarter worth approximately $64,000. Global Retirement Partners LLC increased its stake in Shopify by 5.3% during the 4th quarter. Global Retirement Partners LLC now owns 11,219 shares of the software maker's stock worth $1,193,000 after purchasing an additional 568 shares in the last quarter. Finally, VisionPoint Advisory Group LLC bought a new stake in Shopify during the 4th quarter worth approximately $124,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of NYSE SHOP opened at $106.40 on Friday. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The stock has a market capitalization of $138.04 billion, a P/E ratio of 68.65, a PEG ratio of 4.82 and a beta of 2.63. The stock's fifty day moving average is $100.74 and its 200 day moving average is $104.81.

Analysts Set New Price Targets

SHOP has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their price target on shares of Shopify from $124.00 to $115.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. Mizuho decreased their price target on shares of Shopify from $110.00 to $85.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Truist Financial decreased their price target on shares of Shopify from $120.00 to $100.00 and set a "hold" rating for the company in a research note on Tuesday, May 6th. Benchmark decreased their price target on shares of Shopify from $150.00 to $125.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Finally, Capital One Financial raised shares of Shopify from an "equal weight" rating to an "overweight" rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $115.66.

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.

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