Compass Wealth Management LLC Reduces Holdings in Shopify Inc. (NYSE:SHOP)

Compass Wealth Management LLC lessened its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,000 shares of the software maker’s stock after selling 200 shares during the period. Compass Wealth Management LLC’s holdings in Shopify were worth $319,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Trust Co. of Vermont grew its holdings in shares of Shopify by 9.9% during the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock worth $118,000 after buying an additional 100 shares in the last quarter. First United Bank & Trust grew its stake in Shopify by 2.2% in the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock worth $488,000 after acquiring an additional 100 shares during the period. Sunbelt Securities Inc. raised its holdings in Shopify by 0.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock valued at $1,162,000 after acquiring an additional 105 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its stake in shares of Shopify by 3.3% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock worth $357,000 after purchasing an additional 107 shares during the period. Finally, Moser Wealth Advisors LLC boosted its holdings in shares of Shopify by 1.4% during the third quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock worth $755,000 after purchasing an additional 128 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SHOP. KeyCorp increased their target price on Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group increased their price objective on shares of Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Canaccord Genuity Group boosted their target price on shares of Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Moffett Nathanson increased their price target on shares of Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Finally, JMP Securities reissued a “market outperform” rating and set a $120.00 price objective on shares of Shopify in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $100.31.

Shopify Trading Up 1.5 %

NYSE SHOP opened at $107.74 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. Shopify Inc. has a one year low of $48.56 and a one year high of $120.72. The company has a 50-day simple moving average of $109.37 and a 200-day simple moving average of $86.92. The firm has a market capitalization of $139.22 billion, a PE ratio of 100.70, a price-to-earnings-growth ratio of 2.24 and a beta of 2.46.

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.