Sigma Planning Corp Trims Position in Shopify Inc. (NYSE:SHOP)

Sigma Planning Corp reduced its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 26.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 15,939 shares of the software maker’s stock after selling 5,625 shares during the quarter. Sigma Planning Corp’s holdings in Shopify were worth $1,277,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SHOP. Capital World Investors increased its position in shares of Shopify by 26.2% during the 1st quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock worth $3,840,332,000 after purchasing an additional 10,340,040 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Shopify by 1.7% during the first quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock worth $3,309,154,000 after buying an additional 713,064 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Shopify by 21.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock valued at $2,642,265,000 after buying an additional 5,982,434 shares in the last quarter. GQG Partners LLC raised its holdings in shares of Shopify by 197.9% in the 1st quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock valued at $1,613,006,000 after buying an additional 13,885,473 shares during the period. Finally, Capital International Investors lifted its stake in Shopify by 3.4% during the 1st quarter. Capital International Investors now owns 16,392,141 shares of the software maker’s stock worth $1,264,982,000 after acquiring an additional 542,503 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Roth Mkm boosted their price target on shares of Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Robert W. Baird raised their price target on shares of Shopify from $79.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $70.00 price objective on shares of Shopify in a research report on Monday, October 7th. Wolfe Research started coverage on Shopify in a report on Tuesday, July 16th. They issued an “outperform” rating and a $80.00 target price for the company. Finally, Benchmark restated a “hold” rating on shares of Shopify in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $82.19.

Shopify Price Performance

Shares of SHOP opened at $108.24 on Wednesday. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. The stock’s 50 day moving average is $78.73 and its two-hundred day moving average is $69.92. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $114.51. The firm has a market capitalization of $139.67 billion, a PE ratio of 110.45, a P/E/G ratio of 2.91 and a beta of 2.36.

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.