CreativeOne Wealth LLC Sells 646 Shares of Shopify Inc. (NYSE:SHOP)

CreativeOne Wealth LLC cut its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 10.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,651 shares of the software maker’s stock after selling 646 shares during the quarter. CreativeOne Wealth LLC’s holdings in Shopify were worth $453,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Oliver Lagore Vanvalin Investment Group raised its stake in shares of 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 acquiring an additional 200 shares in the last quarter. Cultivar Capital Inc. acquired a new stake in shares of Shopify in the 2nd quarter worth $33,000. Hazlett Burt & Watson Inc. purchased a new position in Shopify during the 2nd quarter worth $33,000. Brooklyn Investment Group acquired a new position in Shopify during the 3rd quarter valued at about $33,000. Finally, Rosenberg Matthew Hamilton raised its stake in Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after buying an additional 133 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SHOP. JPMorgan Chase & Co. upped their price objective on shares of Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Truist Financial lifted their price objective on shares of Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, November 13th. Oppenheimer upped their target price on Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Wedbush restated a “neutral” rating and issued a $115.00 target price (up previously from $72.00) on shares of Shopify in a research note on Tuesday, November 12th. Finally, Benchmark reiterated a “hold” rating on shares of Shopify in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $95.84.

Shopify Trading Up 2.7 %

Shares of SHOP opened at $115.60 on Monday. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $116.35. The stock has a market cap of $149.37 billion, a PE ratio of 108.04, a price-to-earnings-growth ratio of 3.04 and a beta of 2.36. The firm’s fifty day moving average is $89.16 and its two-hundred day moving average is $74.06. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09.

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.