Shopify Inc. (NYSE:SHOP) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC lessened its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.1% during the 3rd quarter, Holdings Channel reports. The firm owned 562,176 shares of the software maker’s stock after selling 325 shares during the period. Fisher Asset Management LLC’s holdings in Shopify were worth $45,053,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Oliver Lagore Vanvalin Investment Group increased its holdings in Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after purchasing an additional 200 shares during the period. Cultivar Capital Inc. purchased a new stake in shares of Shopify during the second quarter worth approximately $33,000. Hazlett Burt & Watson Inc. acquired a new position in Shopify during the 2nd quarter worth approximately $33,000. Rosenberg Matthew Hamilton boosted its position in shares of Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after acquiring an additional 133 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Shopify in the second quarter valued at approximately $39,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SHOP has been the subject of a number of research reports. Mizuho boosted their price target on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Barclays boosted their price objective on Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Shopify from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Morgan Stanley upped their price target on shares of Shopify from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Finally, Oppenheimer raised their price objective on shares of Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and a consensus target price of $95.84.

Shopify Price Performance

Shopify stock opened at $112.08 on Wednesday. The stock has a market capitalization of $144.63 billion, a P/E ratio of 104.75, a P/E/G ratio of 2.81 and a beta of 2.36. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $115.62. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The firm’s 50-day moving average is $87.00 and its two-hundred day moving average is $72.90.

Shopify Company 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.