International Assets Investment Management LLC Trims Position in Shopify Inc. (NYSE:SHOP)

International Assets Investment Management LLC lowered its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 98.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,316 shares of the software maker’s stock after selling 1,127,599 shares during the period. International Assets Investment Management LLC’s holdings in Shopify were worth $1,539,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SHOP. Oliver Lagore Vanvalin Investment Group grew its stake in shares of Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after buying an additional 200 shares during the period. Brooklyn Investment Group purchased a new stake in Shopify during the third quarter valued at about $33,000. Rosenberg Matthew Hamilton increased its stake 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 last quarter. Hazlett Burt & Watson Inc. purchased a new position in shares of Shopify in the 2nd quarter worth about $33,000. Finally, Truvestments Capital LLC purchased a new position in shares of Shopify in the 3rd quarter worth about $45,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Up 0.9 %

Shares of Shopify stock opened at $107.74 on Thursday. The stock has a market capitalization of $139.21 billion, a price-to-earnings ratio of 100.69, a PEG ratio of 2.98 and a beta of 2.46. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $120.72. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The business’s 50 day simple moving average is $106.27 and its 200-day simple moving average is $83.83.

Analyst Ratings Changes

A number of analysts recently issued reports on SHOP shares. Canaccord Genuity Group increased their target price on shares of Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Royal Bank of Canada raised their target price on shares of Shopify from $100.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $70.00 price target on shares of Shopify in a research report on Monday, October 7th. Moffett Nathanson raised their price objective on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Scotiabank upped their target price on Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $99.88.

About Shopify

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.