Shopify Inc. (NYSE:SHOP) Shares Sold by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC has reduced its stake in Shopify Inc. by 4.1%, selling 64,180 shares, and now owns 1,499,227 shares valued at approximately $143 million.
• Various hedge funds have recently adjusted their positions in Shopify, with Baader Bank increasing its stake by 75.8% and Eastern Bank raising its stake by 152.7% during the first quarter.
• Wall Street analysts have varied opinions on Shopify's stock, with target prices ranging from $85 to $150 and a consensus rating of "Moderate Buy".

Natixis Advisors LLC decreased its stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 4.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,499,227 shares of the software maker's stock after selling 64,180 shares during the period. Natixis Advisors LLC owned approximately 0.12% of Shopify worth $143,147,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Allianz SE purchased a new position in Shopify in the fourth quarter worth about $27,000. Fourth Dimension Wealth LLC purchased a new position in Shopify in the fourth quarter worth about $30,000. Strategic Investment Solutions Inc. IL purchased a new position in Shopify in the fourth quarter worth about $46,000. N.E.W. Advisory Services LLC purchased a new position in Shopify in the first quarter worth about $49,000. Finally, FWL Investment Management LLC purchased a new position in Shopify in the fourth quarter worth about $56,000. Institutional investors own 69.27% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada boosted their price objective on shares of Shopify from $125.00 to $145.00 and gave the company an "outperform" rating in a report on Friday, July 18th. KeyCorp boosted their price objective on shares of Shopify from $115.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Mizuho decreased their price objective on shares of Shopify from $110.00 to $85.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Robert W. Baird boosted their price objective on shares of Shopify from $110.00 to $120.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Finally, Morgan Stanley boosted their price objective on shares of Shopify from $106.00 to $112.00 and gave the company an "overweight" rating in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $120.34.

Shopify Price Performance

Shares of NYSE:SHOP traded down $0.80 during trading hours on Thursday, hitting $122.21. The company's stock had a trading volume of 8,481,536 shares, compared to its average volume of 10,365,797. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The company has a market capitalization of $158.55 billion, a price-to-earnings ratio of 78.85, a P/E/G ratio of 4.82 and a beta of 2.61. The firm's fifty day moving average price is $113.56 and its 200 day moving average price is $106.44.

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.