Octavia Wealth Advisors LLC Has $563,000 Holdings in Shopify Inc. (NYSE:SHOP)

Octavia Wealth Advisors LLC cut its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,296 shares of the software maker’s stock after selling 271 shares during the period. Octavia Wealth Advisors LLC’s holdings in Shopify were worth $563,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Swiss National Bank raised its position in shares of Shopify by 0.9% in the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock valued at $293,507,000 after buying an additional 33,300 shares in the last quarter. Watts Gwilliam & Co. LLC raised its position in shares of Shopify by 53.0% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after buying an additional 4,641 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of Shopify by 29.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock valued at $27,409,000 after buying an additional 77,500 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in shares of Shopify by 26.4% in the third quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock valued at $2,693,000 after buying an additional 7,027 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV raised its position in shares of Shopify by 4.6% in the third quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker’s stock valued at $381,000 after buying an additional 209 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SHOP. Loop Capital upgraded shares of Shopify from a “hold” rating to a “buy” rating and lifted their price target for the company from $110.00 to $140.00 in a research report on Friday, December 6th. Moffett Nathanson lifted their price target on shares of Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Royal Bank of Canada lifted their price objective on shares of Shopify from $100.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. KeyCorp lifted their price objective on shares of Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and an average price target of $100.31.

Shopify Price Performance

SHOP stock opened at $106.44 on Wednesday. The stock has a market capitalization of $137.54 billion, a PE ratio of 99.48, a price-to-earnings-growth ratio of 2.17 and a beta of 2.46. The company’s 50-day moving average is $109.65 and its 200-day moving average is $86.09. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $120.72.

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.