Sowell Financial Services LLC decreased its position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 34.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 16,317 shares of the software maker's stock after selling 8,481 shares during the period. Sowell Financial Services LLC's holdings in Shopify were worth $1,558,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SHOP. Capital World Investors boosted its position in shares of Shopify by 0.9% in the fourth quarter. Capital World Investors now owns 53,102,707 shares of the software maker's stock worth $5,646,455,000 after buying an additional 496,982 shares during the period. Vanguard Group Inc. boosted its position in Shopify by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker's stock worth $5,010,721,000 after acquiring an additional 781,162 shares during the period. FMR LLC boosted its position in Shopify by 3.4% during the 4th quarter. FMR LLC now owns 43,732,077 shares of the software maker's stock worth $4,653,054,000 after acquiring an additional 1,426,000 shares during the period. Capital International Investors boosted its holdings in shares of Shopify by 2.7% during the fourth quarter. Capital International Investors now owns 36,516,305 shares of the software maker's stock worth $3,883,039,000 after purchasing an additional 968,026 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Shopify by 79.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker's stock worth $1,752,834,000 after purchasing an additional 7,316,862 shares during the period. Institutional investors and hedge funds own 69.27% of the company's stock.
Shopify Stock Performance
Shares of SHOP opened at $106.53 on Wednesday. The company has a 50-day simple moving average of $99.56 and a 200-day simple moving average of $104.95. The firm has a market capitalization of $138.21 billion, a P/E ratio of 68.73, a P/E/G ratio of 4.82 and a beta of 2.63. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group decreased their target price on shares of Shopify from $150.00 to $130.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. UBS Group decreased their target price on shares of Shopify from $125.00 to $110.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Wedbush reissued an "outperform" rating and set a $110.00 price objective on shares of Shopify in a research report on Tuesday, April 15th. National Bankshares reduced their price objective on Shopify from $140.00 to $120.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Finally, KeyCorp reduced their price target on Shopify from $140.00 to $105.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $115.66.
Get Our Latest Analysis on SHOP
Shopify Profile
(
Free Report)
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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