Quadrant Capital Group LLC Sells 615 Shares of Shopify Inc. (NYSE:SHOP)

Quadrant Capital Group LLC decreased its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 8.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,884 shares of the software maker’s stock after selling 615 shares during the quarter. Quadrant Capital Group LLC’s holdings in Shopify were worth $445,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Artisan Partners Limited Partnership boosted its holdings in shares of Shopify by 7.8% during the 2nd quarter. Artisan Partners Limited Partnership now owns 2,695,860 shares of the software maker’s stock worth $174,153,000 after buying an additional 194,918 shares during the period. National Wealth Management Group LLC bought a new stake in shares of Shopify during the 2nd quarter worth about $212,000. Private Advisor Group LLC boosted its holdings in shares of Shopify by 11.3% during the 2nd quarter. Private Advisor Group LLC now owns 33,663 shares of the software maker’s stock worth $2,209,000 after buying an additional 3,406 shares during the period. Nwam LLC acquired a new stake in Shopify in the 2nd quarter worth about $216,000. Finally, Checchi Capital Advisers LLC acquired a new stake in Shopify in the 2nd quarter worth about $233,000. Institutional investors own 60.28% of the company’s stock.

Shopify Stock Up 1.6 %

Shopify stock opened at $68.39 on Friday. The company has a quick ratio of 7.23, a current ratio of 7.23 and a debt-to-equity ratio of 0.13. Shopify Inc. has a 12-month low of $32.35 and a 12-month high of $71.43. The firm’s fifty day moving average is $56.08 and its 200 day moving average is $59.57. The company has a market capitalization of $87.71 billion, a PE ratio of -75.15 and a beta of 2.08.

Analyst Ratings Changes

SHOP has been the subject of several analyst reports. Loop Capital dropped their price objective on shares of Shopify from $62.00 to $57.00 and set a “hold” rating for the company in a research note on Monday, October 16th. DA Davidson lifted their price objective on shares of Shopify from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Wells Fargo & Company initiated coverage on shares of Shopify in a research note on Tuesday, October 31st. They issued an “overweight” rating and a $65.00 price objective for the company. DZ Bank upgraded shares of Shopify from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Finally, CIBC boosted their target price on shares of Shopify from $78.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, November 3rd. Twenty-three research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $65.09.

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, 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.