B. Riley Wealth Advisors Inc. lessened its stake in shares of Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) by 36.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,386 shares of the software maker’s stock after selling 19,389 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Shopify were worth $2,205,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norden Group LLC purchased a new position in Shopify during the first quarter valued at approximately $3,618,000. Silvercrest Asset Management Group LLC raised its position in shares of Shopify by 735.0% in the first quarter. Silvercrest Asset Management Group LLC now owns 52,928 shares of the software maker’s stock worth $4,084,000 after buying an additional 46,589 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Shopify by 5.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 523,257 shares of the software maker’s stock worth $40,838,000 after buying an additional 28,639 shares in the last quarter. FIL Ltd boosted its stake in Shopify by 1.8% during the fourth quarter. FIL Ltd now owns 13,303,001 shares of the software maker’s stock valued at $1,035,688,000 after buying an additional 238,596 shares during the period. Finally, Vanguard Group Inc. grew its position in Shopify by 1.7% during the first quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock worth $3,309,154,000 after buying an additional 713,064 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.
Shopify Stock Down 2.1 %
SHOP stock opened at $78.47 on Wednesday. The business has a 50 day moving average of $70.57 and a 200 day moving average of $68.49. The firm has a market cap of $101.12 billion, a PE ratio of -461.59, a price-to-earnings-growth ratio of 2.65 and a beta of 2.35. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10.
Analyst Ratings Changes
A number of analysts have recently issued reports on the company. Evercore ISI lifted their price target on Shopify from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Wells Fargo & Company lifted their target price on shares of Shopify from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, September 11th. Truist Financial decreased their price target on shares of Shopify from $65.00 to $55.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Morgan Stanley lifted their price objective on shares of Shopify from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Finally, DZ Bank cut Shopify from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.38.
Read Our Latest Research Report on SHOP
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.
See Also
- Five stocks we like better than Shopify
- How the NYSE and NASDAQ are Different, Why That Matters to Investors
- Why Lennar Stock Could Be the Best Play in the Housing Market
- 10 Best Airline Stocks to Buy
- 2 Energy Stocks Fueling the AI Datacenter Boom
- Trading Halts Explained
- Will Marinus Pharmaceuticals Be the Next Big Winner in Biotech?
Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP).
Receive News & Ratings for Shopify Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify and related companies with MarketBeat.com's FREE daily email newsletter.