Shopify Inc. (NYSE:SHOP) Stock Holdings Cut by Financial Counselors Inc.

Financial Counselors Inc. lessened its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 10.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 64,058 shares of the software maker's stock after selling 7,434 shares during the period. Financial Counselors Inc.'s holdings in Shopify were worth $6,116,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors boosted its position in shares of Shopify by 0.9% in the fourth quarter. Capital World Investors now owns 53,102,707 shares of the software maker's stock worth $5,646,455,000 after buying an additional 496,982 shares during the period. Vanguard Group Inc. boosted its position in shares of Shopify by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker's stock worth $5,010,721,000 after buying an additional 781,162 shares during the period. FMR LLC boosted its position in shares of Shopify by 3.4% in the fourth quarter. FMR LLC now owns 43,732,077 shares of the software maker's stock worth $4,653,054,000 after buying an additional 1,426,000 shares during the period. Capital International Investors boosted its position in shares of Shopify by 2.7% in the fourth quarter. Capital International Investors now owns 36,516,305 shares of the software maker's stock worth $3,883,039,000 after buying an additional 968,026 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Shopify by 79.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker's stock worth $1,752,834,000 after buying an additional 7,316,862 shares during the period. Hedge funds and other institutional investors own 69.27% of the company's stock.

Shopify Stock Up 1.0%

NYSE SHOP traded up $1.14 on Thursday, reaching $115.46. 4,796,086 shares of the stock traded hands, compared to its average volume of 9,301,128. The firm's fifty day simple moving average is $107.24 and its 200 day simple moving average is $104.89. The company has a market cap of $149.79 billion, a price-to-earnings ratio of 74.54, a P/E/G ratio of 4.82 and a beta of 2.61. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Cantor Fitzgerald reiterated a "neutral" rating and issued a $91.00 price target on shares of Shopify in a research note on Wednesday, June 11th. Royal Bank Of Canada cut their price target on Shopify from $145.00 to $125.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Oppenheimer cut their price target on Shopify from $150.00 to $125.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. UBS Group cut their price target on Shopify from $125.00 to $110.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Finally, BNP Paribas Exane cut Shopify from an "outperform" rating to a "neutral" rating and set a $100.00 price target on the stock. in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Shopify currently has an average rating of "Moderate Buy" and an average target price 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.