ORG Partners LLC Sells 12,191 Shares of Shopify Inc. (NYSE:SHOP)

ORG Partners LLC trimmed its position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 95.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 hedge funds and other institutional investors have also recently bought and sold shares of the company. Dynamic Advisor Solutions LLC bought a new stake in shares of Shopify in the 1st quarter valued at approximately $382,000. World Equity Group Inc. increased its holdings in shares of Shopify by 106.7% during the fourth quarter. World Equity Group Inc. now owns 9,062 shares of the software maker's stock worth $964,000 after buying an additional 4,678 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Shopify by 1.1% in the first quarter. Assenagon Asset Management S.A. now owns 38,732 shares of the software maker's stock valued at $3,694,000 after acquiring an additional 432 shares during the last quarter. Johnson Investment Counsel Inc. boosted its holdings in shares of Shopify by 2.9% in the 1st quarter. Johnson Investment Counsel Inc. now owns 5,541 shares of the software maker's stock worth $529,000 after acquiring an additional 158 shares in the last quarter. Finally, Blair William & Co. IL grew its position in Shopify by 2.1% during the 4th quarter. Blair William & Co. IL now owns 467,025 shares of the software maker's stock worth $49,659,000 after acquiring an additional 9,819 shares during the last quarter. 69.27% of the stock is owned by institutional investors.

Shopify Trading Down 0.7%

Shares of Shopify stock traded down $0.82 on Thursday, reaching $113.07. 11,364,688 shares of the company were exchanged, compared to its average volume of 9,326,901. The company has a market capitalization of $146.69 billion, a price-to-earnings ratio of 72.95, a PEG ratio of 4.82 and a beta of 2.63. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38. The company has a 50-day moving average of $102.49 and a 200 day moving average of $104.82.

Analyst Ratings Changes

SHOP has been the subject of several research analyst reports. Loop Capital cut their price objective on Shopify from $150.00 to $120.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Wells Fargo & Company raised their price target on Shopify from $107.00 to $125.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. National Bankshares dropped their price objective on Shopify from $140.00 to $120.00 and set an "outperform" rating for the company in a report on Friday, April 25th. KeyCorp reduced their target price on Shopify from $140.00 to $105.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, DA Davidson upped their price target on Shopify from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Monday, June 16th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $115.66.

Shopify Company 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.