Caprock Group LLC Sells 748 Shares of Shopify Inc. (NYSE:SHOP)

Caprock Group LLC reduced its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,248 shares of the software maker’s stock after selling 748 shares during the quarter. Caprock Group LLC’s holdings in Shopify were worth $1,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Moser Wealth Advisors LLC increased its position in Shopify by 1.4% in the third quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock worth $755,000 after purchasing an additional 128 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of Shopify by 7.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock worth $159,000 after buying an additional 129 shares during the last quarter. Rosenberg Matthew Hamilton raised 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 buying an additional 133 shares in the last quarter. CVA Family Office LLC lifted its holdings in shares of Shopify by 11.8% in the 3rd quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock valued at $109,000 after acquiring an additional 143 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC grew its position in Shopify by 3.5% in the third quarter. Twin Peaks Wealth Advisors LLC now owns 4,282 shares of the software maker’s stock worth $343,000 after acquiring an additional 145 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on SHOP. Evercore ISI raised their price objective on Shopify from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Oppenheimer lifted their price objective on shares of Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Argus raised shares of Shopify to a “strong-buy” rating in a research note on Thursday, August 8th. Scotiabank lifted their price target on shares of Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company increased their price objective on shares of Shopify from $90.00 to $120.00 and gave the stock an “overweight” 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 assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $94.95.

Shopify Trading Up 2.5 %

Shares of Shopify stock opened at $106.53 on Friday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $115.62. The firm’s 50-day moving average price is $84.81 and its 200 day moving average price is $71.95. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $137.46 billion, a PE ratio of 99.56, a P/E/G ratio of 3.09 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.