Shopify Inc. (NYSE:SHOP) Shares Sold by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC cut its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 44,558 shares of the software maker’s stock after selling 2,699 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Shopify were worth $4,738,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SHOP. Brooklyn Investment Group purchased a new position in Shopify in the 3rd quarter worth $33,000. Rosenberg Matthew Hamilton increased its holdings in shares of 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 purchasing an additional 133 shares during the period. New Wave Wealth Advisors LLC purchased a new position in shares of Shopify in the fourth quarter worth about $39,000. Mather Group LLC. lifted its holdings in shares of Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after purchasing an additional 184 shares during the period. Finally, Truvestments Capital LLC acquired a new position in Shopify in the 3rd quarter worth approximately $45,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on SHOP. DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Wedbush raised shares of Shopify from a “neutral” rating to an “outperform” rating and upped their price target for the company from $115.00 to $125.00 in a report on Monday, January 6th. Truist Financial boosted their price objective on Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, November 13th. Canaccord Genuity Group raised their target price on Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $130.00 price target on shares of Shopify in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and an average price target of $101.74.

Shopify Price Performance

Shares of SHOP stock opened at $119.88 on Tuesday. 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 capitalization of $154.89 billion, a PE ratio of 112.04, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47. The firm’s 50-day moving average is $110.91 and its two-hundred day moving average is $90.95. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $123.41.

Shopify Company 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.