Icon Wealth Advisors LLC Sells 30,123 Shares of Shopify Inc. (NYSE:SHOP)

Icon Wealth Advisors LLC lowered its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 76.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,503 shares of the software maker’s stock after selling 30,123 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Shopify were worth $762,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Moser Wealth Advisors LLC increased its position in shares of Shopify by 1.4% during 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 during the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of Shopify by 7.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock valued at $159,000 after purchasing an additional 129 shares during the last quarter. Rosenberg Matthew Hamilton increased its position in shares of Shopify by 41.3% during the 3rd 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 last quarter. CVA Family Office LLC increased its position in shares of Shopify by 11.8% during the 3rd quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock valued at $109,000 after purchasing an additional 143 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC increased its position in shares of Shopify by 3.5% during the 3rd quarter. Twin Peaks Wealth Advisors LLC now owns 4,282 shares of the software maker’s stock valued at $343,000 after purchasing an additional 145 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

SHOP stock opened at $106.96 on Friday. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $115.62. 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 business has a fifty day moving average of $85.50 and a two-hundred day moving average of $72.15. The stock has a market cap of $138.02 billion, a price-to-earnings ratio of 99.96, a price-to-earnings-growth ratio of 2.80 and a beta of 2.36.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SHOP shares. KeyCorp boosted their target price on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Oppenheimer upped their price objective on Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Citigroup upped their price objective on Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $70.00 price objective on shares of Shopify in a research report on Monday, October 7th. Finally, Barclays upped their price objective on Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Shopify has an average rating of “Moderate Buy” and an average target price of $94.95.

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.