Shopify Inc. (NYSE:SHOP) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. decreased its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 9.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,852 shares of the software maker's stock after selling 2,653 shares during the quarter. B. Riley Wealth Advisors Inc.'s holdings in Shopify were worth $2,855,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SHOP. LRI Investments LLC grew its stake 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 acquiring an additional 79 shares during the period. Tidemark LLC grew its stake 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 acquiring an additional 90 shares during the period. Howland Capital Management LLC grew its stake in Shopify by 2.0% in the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker's stock valued at $526,000 after acquiring an additional 99 shares during the period. Mark Sheptoff Financial Planning LLC boosted its stake in Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock worth $32,000 after purchasing an additional 100 shares during the last quarter. Finally, Seven Mile Advisory boosted 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 during the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Evercore ISI lifted their target price on shares of Shopify from $125.00 to $140.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Scotiabank lowered their target price on shares of Shopify from $120.00 to $90.00 and set a "sector perform" rating on the stock in a research note on Monday, April 28th. Robert W. Baird lifted their target price on shares of Shopify from $126.00 to $135.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. TD Securities lifted their target price on shares of Shopify from $100.00 to $130.00 and gave the stock a "hold" rating in a research note on Wednesday, February 12th. Finally, Royal Bank of Canada lowered their target price on shares of Shopify from $145.00 to $125.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Shopify presently has a consensus rating of "Moderate Buy" and a consensus price target of $115.37.

Shopify Price Performance

Shares of Shopify stock traded down $2.73 on Friday, reaching $104.97. 12,180,186 shares of the company were exchanged, compared to its average volume of 9,446,461. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The company has a market cap of $135.92 billion, a P/E ratio of 67.72, a price-to-earnings-growth ratio of 4.82 and a beta of 2.66. The stock's 50 day moving average price is $95.31 and its 200-day moving average price is $105.06.

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.