Shopify Inc. (NYSE:SHOP) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC trimmed its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.6% in the fourth quarter, Holdings Channel reports. The fund owned 160,821 shares of the software maker’s stock after selling 5,993 shares during the period. Janney Montgomery Scott LLC’s holdings in Shopify were worth $17,100,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Oliver Lagore Vanvalin Investment Group boosted its holdings in Shopify by 100.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Shopify in the third quarter valued at approximately $33,000. Rosenberg Matthew Hamilton grew its holdings in Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after acquiring an additional 133 shares during the period. Truvestments Capital LLC purchased a new position in Shopify in the third quarter worth $45,000. Finally, GAMMA Investing LLC lifted its holdings in Shopify by 73.5% in the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after acquiring an additional 253 shares during the period. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Up 1.5 %

SHOP opened at $107.74 on Friday. The company has a market cap of $139.22 billion, a PE ratio of 100.70, a price-to-earnings-growth ratio of 2.24 and a beta of 2.46. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $120.72. The firm has a 50 day moving average price of $109.37 and a 200 day moving average price of $86.92.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SHOP shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $130.00 price target on shares of Shopify in a research note on Wednesday. Mizuho upped their target price on shares of Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and upped their price target for the stock from $110.00 to $140.00 in a report on Friday, December 6th. Finally, Piper Sandler raised their price objective on Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.31.

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.