Jeppson Wealth Management LLC Sells 265 Shares of Shopify Inc. (NYSE:SHOP)

Jeppson Wealth Management LLC lessened its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,227 shares of the software maker’s stock after selling 265 shares during the quarter. Shopify accounts for 1.0% of Jeppson Wealth Management LLC’s investment portfolio, making the stock its 19th biggest position. Jeppson Wealth Management LLC’s holdings in Shopify were worth $2,682,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SHOP. Swiss National Bank increased its stake 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 worth $293,507,000 after buying an additional 33,300 shares during the period. Watts Gwilliam & Co. LLC increased 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 acquiring an additional 4,641 shares during the period. Teachers Retirement System of The State of Kentucky increased 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 acquiring an additional 77,500 shares during the period. Oppenheimer & Co. Inc. raised its stake in shares of Shopify by 26.4% during the third quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock valued at $2,693,000 after acquiring an additional 7,027 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV boosted its holdings in shares of Shopify by 4.6% during the third quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker’s stock worth $381,000 after purchasing an additional 209 shares during the period. 69.27% of the stock is owned by institutional investors.

Shopify Price Performance

Shares of NYSE:SHOP opened at $107.41 on Tuesday. The firm’s 50 day moving average price is $109.37 and its 200-day moving average price is $87.22. 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 stock has a market capitalization of $138.78 billion, a PE ratio of 100.38, a price-to-earnings-growth ratio of 2.24 and a beta of 2.46. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $120.72.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SHOP. Robert W. Baird boosted their price target on Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Barclays boosted their target price on Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group raised their price target on Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Oppenheimer lifted their price target on shares of Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, JMP Securities restated a “market outperform” rating and issued a $120.00 price objective on shares of Shopify in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and an average price target of $100.32.

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.