Ameritas Advisory Services LLC Sells 3,906 Shares of Shopify Inc. (NYSE:SHOP)

Ameritas Advisory Services LLC lowered its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 40.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,712 shares of the software maker’s stock after selling 3,906 shares during the period. Ameritas Advisory Services LLC’s holdings in Shopify were worth $607,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SHOP. Baillie Gifford & Co. boosted its stake in shares of Shopify by 14.7% during 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 purchasing an additional 8,131,160 shares in the last quarter. FMR LLC lifted its holdings in Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after buying an additional 5,869,795 shares during the period. Legal & General Group Plc boosted its position in Shopify by 1.8% during the 2nd quarter. Legal & General Group Plc now owns 8,233,517 shares of the software maker’s stock valued at $544,017,000 after acquiring an additional 145,618 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Shopify by 6.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker’s stock worth $658,248,000 after acquiring an additional 484,561 shares during the period. Finally, National Bank of Canada FI raised its position in shares of Shopify by 28.0% in the 3rd quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock worth $593,588,000 after acquiring an additional 1,621,981 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Trading Up 0.1 %

NYSE:SHOP opened at $106.39 on Thursday. Shopify Inc. has a one year low of $48.56 and a one year high of $120.72. The business has a fifty day moving average price of $109.62 and a 200-day moving average price of $86.37. The firm has a market capitalization of $137.47 billion, a price-to-earnings ratio of 99.43, a price-to-earnings-growth ratio of 2.17 and a beta of 2.46. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10.

Analysts Set New Price Targets

Several research firms recently weighed in on SHOP. Mizuho lifted their price target on Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group upped their target price on shares of Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Truist Financial lifted their price target on shares of Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday, November 13th. DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Finally, Piper Sandler lifted their target price on shares of Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $100.31.

About Shopify

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.