Strategic Advisors LLC Decreases Stock Holdings in Shopify Inc. (NYSE:SHOP)

Strategic Advisors LLC lessened its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 13.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,351 shares of the software maker's stock after selling 2,394 shares during the quarter. Strategic Advisors LLC's holdings in Shopify were worth $1,466,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Capital World Investors raised its holdings in Shopify by 0.9% in the 4th quarter. Capital World Investors now owns 53,102,707 shares of the software maker's stock valued at $5,646,455,000 after acquiring an additional 496,982 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of 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 purchasing an additional 781,162 shares during the period. FMR LLC increased its position in shares of Shopify by 3.4% during the fourth quarter. FMR LLC now owns 43,732,077 shares of the software maker's stock valued at $4,653,054,000 after acquiring an additional 1,426,000 shares during the last quarter. Capital International Investors raised its position in Shopify by 2.7% in the fourth quarter. Capital International Investors now owns 36,516,305 shares of the software maker's stock valued at $3,883,039,000 after purchasing an additional 968,026 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Shopify by 79.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker's stock valued at $1,752,834,000 after acquiring an additional 7,316,862 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Price Performance

Shares of SHOP stock opened at $108.37 on Tuesday. The business's fifty day moving average price is $99.26 and its 200 day moving average price is $104.94. The firm has a market capitalization of $140.60 billion, a PE ratio of 69.92, a P/E/G ratio of 4.82 and a beta of 2.63. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38.

Analysts Set New Price Targets

SHOP has been the topic of several recent research reports. Jefferies Financial Group cut their target price on shares of Shopify from $130.00 to $110.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Barclays reduced their price objective on Shopify from $100.00 to $94.00 and set an "equal weight" rating on the stock in a research note on Friday, May 9th. JPMorgan Chase & Co. lowered their target price on Shopify from $124.00 to $115.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. Wedbush restated an "outperform" rating and issued a $110.00 price objective on shares of Shopify in a report on Tuesday, April 15th. Finally, Mizuho dropped their price objective on Shopify from $110.00 to $85.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $115.66.

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.

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