Natural Investments LLC Sells 4,596 Shares of Shopify Inc. (NYSE:SHOP)

Key Points

• Natural Investments LLC reduced its stake in Shopify Inc. by 14.7%, selling 4,596 shares during the first quarter, resulting in holdings valued at approximately $2.55 million.
• Various institutional investors have adjusted their positions in Shopify, with some purchasing new stakes and others significantly increasing their holdings.
• Analysts have varying ratings on Shopify, with an average target price of $120.74 and a predominant rating of "Moderate Buy" as of the latest reports.

Natural Investments LLC lowered its stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 14.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,705 shares of the software maker's stock after selling 4,596 shares during the quarter. Natural Investments LLC's holdings in Shopify were worth $2,549,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Fourth Dimension Wealth LLC bought a new stake in Shopify during the fourth quarter worth $30,000. Smithfield Trust Co increased its position in shares of Shopify by 149.2% during the 1st quarter. Smithfield Trust Co now owns 314 shares of the software maker's stock valued at $30,000 after purchasing an additional 188 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in shares of Shopify by 86.8% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 355 shares of the software maker's stock worth $34,000 after purchasing an additional 165 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in shares of Shopify in the 4th quarter worth about $46,000. Finally, Accent Capital Management LLC bought a new position in Shopify during the first quarter valued at about $46,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SHOP. Arete Research raised shares of Shopify to a "hold" rating in a research report on Wednesday, July 23rd. Loop Capital cut shares of Shopify from a "buy" rating to a "hold" rating and set a $120.00 price target on the stock. in a report on Tuesday, July 22nd. DA Davidson upped their price objective on Shopify from $125.00 to $185.00 and gave the company a "buy" rating in a research note on Thursday. BNP Paribas Exane downgraded Shopify from an "outperform" rating to a "neutral" rating and set a $100.00 target price for the company. in a research report on Monday, May 5th. Finally, Mizuho boosted their target price on Shopify from $85.00 to $150.00 and gave the company a "neutral" rating in a research note on Thursday. One analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $143.69.

Shopify Trading Down 2.5%

Shares of NYSE SHOP traded down $3.83 during midday trading on Thursday, hitting $151.07. 15,918,183 shares of the company's stock were exchanged, compared to its average volume of 10,558,622. The business's fifty day moving average price is $116.61 and its two-hundred day moving average price is $107.55. The company has a market cap of $196.00 billion, a price-to-earnings ratio of 97.47, a PEG ratio of 4.82 and a beta of 2.63. Shopify Inc. has a 12-month low of $63.91 and a 12-month high of $156.85.

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.