Shopify Inc (NYSE:SHOP) Shares Sold by Advisory Services Network LLC

Advisory Services Network LLC lessened its stake in Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 55.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,117 shares of the software maker’s stock after selling 1,366 shares during the period. Advisory Services Network LLC’s holdings in Shopify were worth $444,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. First Trust Advisors LP lifted its holdings in Shopify by 15.6% during the first quarter. First Trust Advisors LP now owns 3,499 shares of the software maker’s stock worth $723,000 after buying an additional 472 shares during the period. Valeo Financial Advisors LLC increased its position in shares of Shopify by 267.0% during the third quarter. Valeo Financial Advisors LLC now owns 701 shares of the software maker’s stock worth $218,000 after purchasing an additional 510 shares in the last quarter. Signaturefd LLC increased its position in shares of Shopify by 421.5% during the third quarter. Signaturefd LLC now owns 631 shares of the software maker’s stock worth $197,000 after purchasing an additional 510 shares in the last quarter. Wealthcare Advisory Partners LLC increased its position in shares of Shopify by 925.0% during the third quarter. Wealthcare Advisory Partners LLC now owns 205 shares of the software maker’s stock worth $64,000 after purchasing an additional 185 shares in the last quarter. Finally, Winfield Associates Inc. acquired a new position in shares of Shopify during the third quarter worth $461,000. Hedge funds and other institutional investors own 57.36% of the company’s stock.

NYSE SHOP opened at $532.97 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 11.21 and a quick ratio of 11.21. The stock’s fifty day moving average price is $449.15 and its 200 day moving average price is $368.66. Shopify Inc has a 1 year low of $169.56 and a 1 year high of $593.89. The company has a market cap of $56.71 billion, a price-to-earnings ratio of -471.65 and a beta of 1.19.

A number of equities analysts have recently issued reports on SHOP shares. Zacks Investment Research raised Shopify from a “hold” rating to a “buy” rating and set a $495.00 price target on the stock in a research report on Wednesday, January 22nd. SunTrust Banks upped their price target on Shopify from $340.00 to $585.00 and gave the stock a “hold” rating in a research report on Thursday. CIBC reaffirmed a “hold” rating and set a $600.00 price target on shares of Shopify in a research report on Thursday. UBS Group reaffirmed an “underperform” rating and set a $450.00 price target on shares of Shopify in a research report on Thursday. They noted that the move was a valuation call. Finally, Barclays reaffirmed a “hold” rating and set a $420.00 price target on shares of Shopify in a research report on Sunday, January 26th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $460.46.

Shopify Company Profile

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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