Shopify Inc. (NYSE:SHOP) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky decreased its position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 0.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 339,330 shares of the software maker's stock after selling 2,700 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Shopify were worth $32,399,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allianz SE purchased a new position in Shopify in the fourth quarter worth $27,000. Fourth Dimension Wealth LLC acquired a new position in shares of Shopify during the 4th quarter worth $30,000. Mark Sheptoff Financial Planning LLC increased its holdings in shares of Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Shopify during the fourth quarter worth about $46,000. Finally, FWL Investment Management LLC purchased a new stake in Shopify during the fourth quarter worth about $56,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

Shopify stock traded up $0.32 during trading on Friday, reaching $127.07. 8,468,342 shares of the company's stock were exchanged, compared to its average volume of 9,288,445. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The firm has a market cap of $164.86 billion, a price-to-earnings ratio of 81.98, a PEG ratio of 4.82 and a beta of 2.61. The company's 50-day moving average is $110.52 and its two-hundred day moving average is $105.38.

Analyst Ratings Changes

SHOP has been the topic of several research reports. Royal Bank Of Canada upped their target price on Shopify from $125.00 to $145.00 and gave the company an "outperform" rating in a report on Friday. The Goldman Sachs Group decreased their price objective on shares of Shopify from $150.00 to $130.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Wedbush reissued an "outperform" rating and issued a $110.00 price objective on shares of Shopify in a research note on Tuesday, April 15th. JPMorgan Chase & Co. cut their target price on shares of Shopify from $124.00 to $115.00 and set an "overweight" rating for the company in a research report on Friday, May 9th. Finally, Stifel Nicolaus upped their price target on shares of Shopify from $100.00 to $110.00 and gave the company a "hold" rating in a report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $117.58.

Shopify 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.