Robertson Stephens Wealth Management LLC Has $1.15 Million Holdings in Shopify Inc. (NYSE:SHOP)

Robertson Stephens Wealth Management LLC lowered its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.3% during the fourth quarter, Holdings Channel reports. The fund owned 10,845 shares of the software maker’s stock after selling 606 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Shopify were worth $1,153,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Tyche Wealth Partners LLC acquired a new stake in shares of Shopify during the fourth quarter valued at approximately $243,000. Choreo LLC increased its stake in Shopify by 25.5% in the 4th quarter. Choreo LLC now owns 33,770 shares of the software maker’s stock valued at $3,599,000 after buying an additional 6,868 shares during the period. Weaver Capital Management LLC increased its stake in Shopify by 6.0% in the 4th quarter. Weaver Capital Management LLC now owns 53,185 shares of the software maker’s stock valued at $5,655,000 after buying an additional 2,999 shares during the period. Sargent Investment Group LLC acquired a new position in Shopify in the 4th quarter valued at approximately $319,000. Finally, Mather Group LLC. increased its stake in Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after buying an additional 184 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Atb Cap Markets lowered shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Loop Capital upgraded shares of Shopify from a “hold” rating to a “buy” rating and upped their price objective for the company from $110.00 to $140.00 in a research note on Friday, December 6th. Scotiabank upped their price objective on shares of Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, October 24th. Mizuho upped their price objective on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group boosted their target price on shares of Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.32.

Shopify Stock Down 2.6 %

Shares of NYSE:SHOP opened at $118.61 on Friday. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $122.81. The company’s 50-day moving average price is $110.75 and its two-hundred day moving average price is $89.95. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The firm has a market cap of $153.26 billion, a P/E ratio of 110.86, a P/E/G ratio of 2.46 and a beta of 2.47.

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.