Shopify Inc. (NYSE:SHOP) Shares Sold by UMB Bank n.a.

UMB Bank n.a. trimmed its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 16.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,417 shares of the software maker’s stock after selling 849 shares during the period. UMB Bank n.a.’s holdings in Shopify were worth $422,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Capital World Investors grew its holdings in Shopify by 0.9% during the 4th quarter. Capital World Investors now owns 53,102,707 shares of the software maker’s stock worth $5,646,455,000 after acquiring an additional 496,982 shares in the last quarter. Vanguard Group Inc. grew its holdings in Shopify by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker’s stock worth $5,010,721,000 after acquiring an additional 781,162 shares in the last quarter. FMR LLC grew its holdings in Shopify by 3.4% during the 4th quarter. FMR LLC now owns 43,732,077 shares of the software maker’s stock worth $4,653,054,000 after acquiring an additional 1,426,000 shares in the last quarter. Capital International Investors grew its holdings in Shopify by 2.7% during the 4th quarter. Capital International Investors now owns 36,516,305 shares of the software maker’s stock worth $3,883,039,000 after acquiring an additional 968,026 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Shopify by 79.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock worth $1,752,834,000 after acquiring an additional 7,316,862 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Up 2.3%

NYSE SHOP opened at $110.26 on Wednesday. The stock has a market capitalization of $142.77 billion, a PE ratio of 71.14, a price-to-earnings-growth ratio of 4.82 and a beta of 2.63. The company has a 50 day moving average price of $96.72 and a two-hundred day moving average price of $105.09. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SHOP. Morgan Stanley raised their price target on shares of Shopify from $106.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Wells Fargo & Company raised their price target on shares of Shopify from $107.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, June 6th. Evercore ISI lifted their price objective on shares of Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Royal Bank of Canada cut their price objective on shares of Shopify from $145.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. Finally, ATB Capital lifted their price objective on shares of Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $115.11.

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.