Claro Advisors LLC Sells 381 Shares of Shopify Inc. (NYSE:SHOP)

Claro Advisors LLC decreased its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,306 shares of the software maker’s stock after selling 381 shares during the period. Claro Advisors LLC’s holdings in Shopify were worth $564,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Kieckhefer Group LLC bought a new stake in shares of Shopify during the 4th quarter worth about $175,000. Fiduciary Alliance LLC boosted its holdings in Shopify by 13.2% in the 4th quarter. Fiduciary Alliance LLC now owns 13,865 shares of the software maker’s stock valued at $1,474,000 after purchasing an additional 1,615 shares during the period. Aprio Wealth Management LLC boosted its holdings in Shopify by 18.8% in the 4th quarter. Aprio Wealth Management LLC now owns 3,502 shares of the software maker’s stock valued at $372,000 after purchasing an additional 555 shares during the period. RMR Wealth Builders boosted its holdings in Shopify by 2.9% in the 4th quarter. RMR Wealth Builders now owns 10,846 shares of the software maker’s stock valued at $1,153,000 after purchasing an additional 305 shares during the period. Finally, Sugarloaf Wealth Management LLC boosted its holdings in Shopify by 53.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 1,720 shares of the software maker’s stock valued at $183,000 after purchasing an additional 600 shares during the period. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 2.0 %

Shares of NYSE SHOP opened at $101.67 on Tuesday. The firm has a 50 day moving average price of $107.82 and a two-hundred day moving average price of $84.79. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $120.72. The stock has a market cap of $131.37 billion, a P/E ratio of 95.02, a price-to-earnings-growth ratio of 2.98 and a beta of 2.46.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SHOP. Mizuho boosted their price objective on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Piper Sandler boosted their price objective on shares of Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Royal Bank of Canada boosted their price objective on shares of Shopify from $100.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Loop Capital upgraded shares of Shopify from a “hold” rating to a “buy” rating and boosted their target price for the company from $110.00 to $140.00 in a research report on Friday, December 6th. Finally, Citigroup boosted their target price on shares of Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $100.31.

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.