Shopify Inc. (NYSE:SHOP) Shares Sold by Masso Torrence Wealth Management Inc.

Masso Torrence Wealth Management Inc. reduced its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,435 shares of the software maker’s stock after selling 190 shares during the period. Masso Torrence Wealth Management Inc.’s holdings in Shopify were worth $1,110,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

SHOP has been the topic of a number of analyst reports. JMP Securities restated a “market outperform” rating and set a $120.00 target price on shares of Shopify in a research report on Thursday, December 12th. New Street Research began coverage on Shopify in a research report on Friday, January 10th. They issued a “neutral” rating and a $115.00 price objective for the company. KeyCorp increased their target price on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Moffett Nathanson boosted their price target on shares of Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Finally, Truist Financial increased their price objective on shares of Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and a consensus target price of $100.32.

Shopify Price Performance

Shares of NYSE SHOP opened at $116.39 on Wednesday. The stock’s 50-day moving average is $109.65 and its two-hundred day moving average is $87.89. 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 company has a market cap of $150.39 billion, a price-to-earnings ratio of 109.12, a price-to-earnings-growth ratio of 2.24 and a beta of 2.46. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $120.72.

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.