Central Pacific Bank Trust Division Sells 98 Shares of Shopify Inc. (NYSE:SHOP)

Central Pacific Bank Trust Division lowered its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 24.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 295 shares of the software maker’s stock after selling 98 shares during the period. Central Pacific Bank Trust Division’s holdings in Shopify were worth $31,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Baillie Gifford & Co. increased its stake in Shopify by 14.7% in the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after buying an additional 8,131,160 shares during the last quarter. FMR LLC grew its holdings in shares of Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after acquiring an additional 5,869,795 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Shopify by 49.9% in the second quarter. Mackenzie Financial Corp now owns 6,315,028 shares of the software maker’s stock valued at $417,386,000 after acquiring an additional 2,102,939 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in Shopify by 54.2% during the second quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock worth $311,404,000 after acquiring an additional 1,657,251 shares during the period. Finally, National Bank of Canada FI boosted its position in Shopify by 28.0% in the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock worth $593,588,000 after purchasing an additional 1,621,981 shares during the last quarter. 69.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $70.00 target price on shares of Shopify in a research report on Monday, October 7th. 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 report on Wednesday, November 13th. Piper Sandler boosted their target price on shares of Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group raised their price target on shares of Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group upped their price objective on Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Shopify presently has an average rating of “Moderate Buy” and a consensus target price of $99.59.

Shopify Stock Up 1.6 %

SHOP opened at $109.25 on Monday. The business’s fifty day simple moving average is $104.50 and its 200 day simple moving average is $83.01. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $120.72. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The stock has a market cap of $141.16 billion, a PE ratio of 102.10, a P/E/G ratio of 2.98 and a beta of 2.46.

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.