Private Advisor Group LLC Sells 11,780 Shares of Shopify Inc. $SHOP

Key Points

• Private Advisor Group LLC trimmed its stake in Shopify by 22.4%, selling 11,780 shares and leaving it with 40,794 shares valued at about $6.06 million, per the latest 13F filing.
• Shopify shares opened at $126.17 (down 2.6%), trading in a 12‑month range of $69.84–$182.19 with a market cap of $164.25 billion and a high PE (~135.7).
• Analysts have a consensus rating of "Moderate Buy" with an average price target of $163.38; most coverage is positive (32 Buys, 10 Holds, 2 Strong Buys).

Private Advisor Group LLC trimmed its holdings in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 22.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,794 shares of the software maker's stock after selling 11,780 shares during the period. Private Advisor Group LLC's holdings in Shopify were worth $6,062,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Heartwood Wealth Advisors LLC acquired a new stake in shares of Shopify during the third quarter worth about $27,000. Rothschild Investment LLC grew its position in shares of Shopify by 47.5% in the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker's stock valued at $27,000 after purchasing an additional 75 shares during the period. Financial Gravity Companies Inc. acquired a new position in shares of Shopify in the 2nd quarter valued at approximately $27,000. Caitlin John LLC bought a new stake in Shopify during the 3rd quarter worth approximately $36,000. Finally, Estabrook Capital Management bought a new stake in Shopify during the 2nd quarter worth approximately $29,000. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Down 2.6%

NASDAQ SHOP opened at $126.17 on Friday. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $182.19. The company has a market capitalization of $164.25 billion, a PE ratio of 135.67, a price-to-earnings-growth ratio of 4.65 and a beta of 2.83. The firm's 50 day moving average is $134.60 and its 200-day moving average is $148.74.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Citigroup reaffirmed a "buy" rating and issued a $172.00 price target (down from $195.00) on shares of Shopify in a research note on Friday, February 13th. Robert W. Baird set a $160.00 price objective on shares of Shopify in a research report on Thursday, February 12th. Wells Fargo & Company set a $191.00 price objective on shares of Shopify and gave the stock an "overweight" rating in a report on Thursday, February 12th. Stifel Nicolaus set a $115.00 price objective on shares of Shopify and gave the company a "hold" rating in a research report on Wednesday, February 11th. Finally, Barclays set a $130.00 target price on shares of Shopify and gave the stock an "equal weight" rating in a research note on Thursday, February 12th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $163.38.

Shopify Company Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.

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