Shopify Inc. $SHOP Stock Position Reduced by Strategy Capital LLC

Strategy Capital LLC reduced its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 0.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,825,243 shares of the software maker’s stock after selling 4,674 shares during the quarter. Shopify makes up 17.9% of Strategy Capital LLC’s investment portfolio, making the stock its 2nd biggest holding. Strategy Capital LLC owned about 0.14% of Shopify worth $271,249,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Twin Peaks Wealth Advisors LLC boosted its holdings in Shopify by 1.7% in the third quarter. Twin Peaks Wealth Advisors LLC now owns 3,448 shares of the software maker’s stock valued at $512,000 after purchasing an additional 59 shares in the last quarter. Accurate Wealth Management LLC raised its holdings in Shopify by 2.0% during the third quarter. Accurate Wealth Management LLC now owns 3,438 shares of the software maker’s stock worth $526,000 after purchasing an additional 67 shares in the last quarter. Moloney Securities Asset Management LLC lifted its position in shares of Shopify by 1.8% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 3,951 shares of the software maker’s stock worth $587,000 after buying an additional 70 shares during the last quarter. Rothschild Investment LLC lifted its position in shares of Shopify by 47.5% during the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after buying an additional 75 shares during the last quarter. Finally, Sivia Capital Partners LLC boosted its holdings in shares of Shopify by 0.9% in the 3rd quarter. Sivia Capital Partners LLC now owns 8,265 shares of the software maker’s stock valued at $1,228,000 after buying an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

NASDAQ SHOP opened at $130.20 on Monday. The firm’s fifty day moving average is $137.30 and its two-hundred day moving average is $149.14. Shopify Inc. has a one year low of $69.84 and a one year high of $182.19. The firm has a market cap of $169.50 billion, a PE ratio of 140.00, a P/E/G ratio of 4.67 and a beta of 2.83.

Analyst Upgrades and Downgrades

SHOP has been the topic of several research analyst reports. Mizuho upgraded shares of Shopify from a “neutral” rating to an “outperform” rating and set a $150.00 price target on the stock in a research note on Thursday, February 12th. Stifel Nicolaus set a $115.00 price objective on shares of Shopify and gave the company a “hold” rating in a research note on Wednesday, February 11th. BMO Capital Markets set a $160.00 price objective on Shopify in a report on Thursday, February 12th. Barclays set a $130.00 target price on Shopify and gave the company an “equal weight” rating in a report on Thursday, February 12th. Finally, Bank of America upped their target price on Shopify from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.64.

Shopify Company Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.