Shopify Inc. (NYSE:SHOP) Stake Lessened by Two Sigma Investments LP

Two Sigma Investments LP decreased its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 99.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 130,830 shares of the software maker's stock after selling 12,384,770 shares during the quarter. Two Sigma Investments LP's holdings in Shopify were worth $13,911,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of SHOP. Allianz SE purchased a new stake in shares of Shopify during the 4th quarter worth approximately $27,000. PFG Private Wealth Management LLC raised its holdings in Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock worth $28,000 after purchasing an additional 256 shares during the last quarter. Mark Sheptoff Financial Planning LLC raised its holdings in Shopify by 50.0% during the fourth 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. New Wave Wealth Advisors LLC purchased a new stake in Shopify during the fourth quarter worth $39,000. Finally, Mather Group LLC. grew its holdings in Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker's stock valued at $43,000 after purchasing an additional 184 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.

Shopify Stock Up 5.2%

Shares of Shopify stock traded up $5.23 during trading hours on Tuesday, hitting $106.74. 7,550,825 shares of the company's stock traded hands, compared to its average volume of 9,468,660. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The company has a market cap of $138.21 billion, a PE ratio of 68.86, a PEG ratio of 4.82 and a beta of 2.66. The stock has a 50 day simple moving average of $95.29 and a 200-day simple moving average of $105.00.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SHOP. The Goldman Sachs Group lowered their price objective on shares of Shopify from $150.00 to $130.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Scotiabank lowered their price target on shares of Shopify from $120.00 to $90.00 and set a "sector perform" rating on the stock in a research report on Monday, April 28th. Wells Fargo & Company raised their price objective on shares of Shopify from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Citigroup upped their target price on Shopify from $143.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Finally, Evercore ISI boosted their price target on Shopify from $125.00 to $140.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $115.37.

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.