Moloney Securities Asset Management LLC Sells 4,054 Shares of Shopify Inc. (NYSE:SHOP)

Moloney Securities Asset Management LLC lessened its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 9.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,481 shares of the software maker's stock after selling 4,054 shares during the period. Moloney Securities Asset Management LLC's holdings in Shopify were worth $3,865,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Axxcess Wealth Management LLC increased its position in Shopify by 17.3% in the 1st quarter. Axxcess Wealth Management LLC now owns 15,388 shares of the software maker's stock valued at $1,469,000 after acquiring an additional 2,268 shares during the period. Rehmann Capital Advisory Group grew its holdings in Shopify by 33.5% during the first quarter. Rehmann Capital Advisory Group now owns 3,111 shares of the software maker's stock worth $297,000 after acquiring an additional 781 shares during the period. Principal Securities Inc. grew its holdings in Shopify by 15.6% during the first quarter. Principal Securities Inc. now owns 15,493 shares of the software maker's stock worth $1,479,000 after acquiring an additional 2,094 shares during the period. Greenleaf Trust lifted its position in shares of Shopify by 5.3% during the 1st quarter. Greenleaf Trust now owns 4,146 shares of the software maker's stock valued at $396,000 after acquiring an additional 208 shares during the last quarter. Finally, Optimum Investment Advisors lifted its position in shares of Shopify by 5.1% during the 1st quarter. Optimum Investment Advisors now owns 4,780 shares of the software maker's stock valued at $456,000 after acquiring an additional 233 shares during the last quarter. Institutional investors own 69.27% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Loop Capital reduced their price objective on Shopify from $150.00 to $120.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. KeyCorp dropped their target price on shares of Shopify from $140.00 to $105.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. UBS Group cut their price objective on shares of Shopify from $125.00 to $110.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Capital One Financial upgraded shares of Shopify from an "equal weight" rating to an "overweight" rating in a research note on Thursday, May 8th. Finally, National Bankshares cut their target price on Shopify from $140.00 to $120.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Shopify has an average rating of "Moderate Buy" and a consensus price target of $115.66.

Shopify Stock Up 1.6%

SHOP traded up $1.81 during trading on Thursday, hitting $116.13. The company had a trading volume of 3,483,550 shares, compared to its average volume of 9,295,824. The company has a market capitalization of $150.66 billion, a PE ratio of 74.84, a PEG ratio of 4.82 and a beta of 2.61. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38. The firm's 50-day moving average price is $107.24 and its 200 day moving average price is $104.89.

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.