ORG Partners LLC Reduces Stock Position in Shopify Inc. (NYSE:SHOP)

ORG Partners LLC lessened its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 95.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 553 shares of the software maker's stock after selling 12,191 shares during the quarter. ORG Partners LLC's holdings in Shopify were worth $54,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. LRI Investments LLC boosted its position in Shopify by 9.8% in the 4th quarter. LRI Investments LLC now owns 889 shares of the software maker's stock valued at $94,000 after buying an additional 79 shares during the period. Tidemark LLC boosted its position in Shopify by 3.6% in the 4th quarter. Tidemark LLC now owns 2,592 shares of the software maker's stock valued at $276,000 after buying an additional 90 shares during the period. Mark Sheptoff Financial Planning LLC boosted its position in 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 buying an additional 100 shares during the period. Seven Mile Advisory grew its stake in Shopify by 2.3% during the 4th quarter. Seven Mile Advisory now owns 5,068 shares of the software maker's stock worth $539,000 after purchasing an additional 114 shares in the last quarter. Finally, Accurate Wealth Management LLC grew its stake in Shopify by 4.0% during the 1st quarter. Accurate Wealth Management LLC now owns 3,408 shares of the software maker's stock worth $325,000 after purchasing an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.

Shopify Stock Performance

Shopify stock opened at $106.40 on Monday. The firm has a market capitalization of $138.04 billion, a price-to-earnings ratio of 68.65, a price-to-earnings-growth ratio of 4.82 and a beta of 2.63. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The stock's fifty day moving average is $100.74 and its two-hundred day moving average is $104.75.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. DA Davidson boosted their target price on Shopify from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. Mizuho lowered their target price on Shopify from $110.00 to $85.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Wells Fargo & Company raised their price objective on shares of Shopify from $107.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Benchmark reduced their price objective on shares of Shopify from $150.00 to $125.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Finally, National Bankshares reduced their price objective on shares of Shopify from $140.00 to $120.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $115.66.

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.

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