Shopify Inc. (NYSE:SHOP) is Prairie Wealth Advisors Inc.’s 8th Largest Position

Prairie Wealth Advisors Inc. decreased its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.6% during the 4th quarter, Holdings Channel reports. The fund owned 38,845 shares of the software maker’s stock after selling 1,860 shares during the quarter. Shopify comprises about 2.0% of Prairie Wealth Advisors Inc.’s holdings, making the stock its 8th biggest position. Prairie Wealth Advisors Inc.’s holdings in Shopify were worth $4,130,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. 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 lifted its position in shares of Shopify by 2.2% during the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock valued at $488,000 after acquiring an additional 100 shares during the period. Sunbelt Securities Inc. boosted its stake in shares of Shopify by 0.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock worth $1,162,000 after acquiring an additional 105 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its holdings in shares of Shopify by 3.3% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock worth $357,000 after acquiring an additional 107 shares during the period. Finally, Moser Wealth Advisors LLC increased its stake in Shopify by 1.4% in the 3rd quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock valued at $755,000 after purchasing an additional 128 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Performance

NYSE:SHOP opened at $118.61 on Friday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $122.81. The firm has a market capitalization of $153.26 billion, a price-to-earnings ratio of 110.86, a PEG ratio of 2.46 and a beta of 2.47. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The firm’s fifty day simple moving average is $110.75 and its 200 day simple moving average is $89.95.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Atb Cap Markets downgraded Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Barclays boosted their price objective on shares of Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Piper Sandler lifted their target price on shares of Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Moffett Nathanson raised their price objective 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, Scotiabank upped their target price on Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and an average price target of $100.32.

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.