Moloney Securities Asset Management LLC Decreases Holdings in Shopify Inc. (NYSE:SHOP)

Moloney Securities Asset Management LLC reduced its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 9.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,481 shares of the software maker's stock after selling 4,054 shares during the quarter. Moloney Securities Asset Management LLC's holdings in Shopify were worth $3,865,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allianz SE acquired a new position in shares of Shopify in the fourth quarter valued at about $27,000. Fourth Dimension Wealth LLC acquired a new stake in Shopify during the fourth quarter worth about $30,000. Mark Sheptoff Financial Planning LLC boosted its stake in shares of Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Shopify in the 4th quarter valued at approximately $46,000. Finally, FWL Investment Management LLC acquired a new stake in shares of Shopify in the 4th quarter valued at approximately $56,000. 69.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SHOP. Capital One Financial upgraded shares of Shopify from an "equal weight" rating to an "overweight" rating in a report on Thursday, May 8th. National Bankshares reduced their price objective on shares of Shopify from $140.00 to $120.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Jefferies Financial Group reduced their price objective on shares of Shopify from $130.00 to $110.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Morgan Stanley lifted their price target on shares of Shopify from $106.00 to $112.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Finally, Wells Fargo & Company lifted their price objective on shares of Shopify from $107.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $115.66.

Shopify Price Performance

NYSE SHOP traded up $0.84 on Thursday, reaching $115.16. 6,836,093 shares of the company's stock traded hands, compared to its average volume of 9,317,120. The stock has a market cap of $149.41 billion, a PE ratio of 74.30, 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. The stock has a 50-day simple moving average of $107.60 and a 200 day simple moving average of $104.93.

Shopify 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.