Congress Park Capital LLC Sells 425 Shares of Shopify Inc. (NYSE:SHOP)

Congress Park Capital LLC lowered its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,875 shares of the software maker’s stock after selling 425 shares during the period. Congress Park Capital LLC’s holdings in Shopify were worth $625,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Oliver Lagore Vanvalin Investment Group raised its position in Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Shopify in the 3rd quarter valued at about $33,000. Rosenberg Matthew Hamilton increased its stake in shares of Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after buying an additional 133 shares during the period. Truvestments Capital LLC bought a new position in shares of Shopify during the third quarter worth about $45,000. Finally, GAMMA Investing LLC lifted its stake in shares of Shopify by 73.5% in the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock worth $48,000 after acquiring an additional 253 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Robert W. Baird raised their price target on shares of Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Cantor Fitzgerald reissued a “neutral” rating and set a $70.00 target price on shares of Shopify in a research note on Monday, October 7th. KeyCorp upped their price target on shares of Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Citigroup increased their price target on Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, Canaccord Genuity Group boosted their price objective on Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $100.31.

Shopify Stock Performance

NYSE SHOP opened at $103.47 on Friday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $120.72. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The company has a fifty day moving average price of $108.71 and a 200-day moving average price of $85.17. The firm has a market cap of $133.70 billion, a price-to-earnings ratio of 96.71, a PEG ratio of 2.18 and a beta of 2.46.

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.