Shopify Inc. (NYSE:SHOP) Shares Sold by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. has reduced its stake in Shopify Inc. by 15.4%, selling 8,642 shares and leaving them with 47,441 shares valued at approximately $4.53 million.
• Shopify's stock is currently trading at $151.07 with a market cap of $196 billion and an impressive P/E ratio of 97.47.
• Analyst ratings for Shopify show a consensus of "Moderate Buy" with an average price target of $143.69, as several firms have recently increased their price targets for the stock.

Atria Wealth Solutions Inc. reduced its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 15.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,441 shares of the software maker's stock after selling 8,642 shares during the period. Atria Wealth Solutions Inc.'s holdings in Shopify were worth $4,530,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in SHOP. Fourth Dimension Wealth LLC bought a new stake in shares of Shopify in the 4th quarter worth approximately $30,000. Smithfield Trust Co raised its holdings in shares of Shopify by 149.2% in the 1st quarter. Smithfield Trust Co now owns 314 shares of the software maker's stock worth $30,000 after purchasing an additional 188 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Shopify in the 4th quarter worth approximately $46,000. Accent Capital Management LLC bought a new stake in shares of Shopify in the 1st quarter worth approximately $46,000. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of Shopify in the 1st quarter worth approximately $49,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Trading Down 2.5%

NYSE SHOP opened at $151.07 on Friday. The company has a fifty day simple moving average of $116.61 and a 200 day simple moving average of $107.55. The company has a market cap of $196.00 billion, a P/E ratio of 97.47, a P/E/G ratio of 4.82 and a beta of 2.63. Shopify Inc. has a 1 year low of $63.91 and a 1 year high of $156.85.

Wall Street Analyst Weigh In

A number of research firms recently commented on SHOP. UBS Group boosted their target price on shares of Shopify from $110.00 to $145.00 and gave the stock a "neutral" rating in a report on Thursday. Canaccord Genuity Group boosted their target price on shares of Shopify from $115.00 to $165.00 and gave the stock a "buy" rating in a report on Thursday. Citigroup reiterated an "outperform" rating on shares of Shopify in a report on Thursday. The Goldman Sachs Group boosted their price target on shares of Shopify from $120.00 to $176.00 and gave the company a "buy" rating in a report on Thursday. Finally, ATB Capital lowered shares of Shopify to a "sector perform" rating in a report on Thursday. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $143.69.

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.

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