Shopify Inc. (NYSE:SHOP) Shares Sold by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. reduced its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 34.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,647 shares of the software maker’s stock after selling 11,692 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Shopify were worth $2,408,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SHOP. Sunbelt Securities Inc. lifted its stake in Shopify by 0.7% during the third quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock valued at $1,162,000 after buying an additional 105 shares in the last quarter. Moser Wealth Advisors LLC boosted its stake in Shopify by 1.4% in the 3rd quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock worth $755,000 after purchasing an additional 128 shares during the period. Massmutual Trust Co. FSB ADV grew its position in Shopify by 7.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock worth $159,000 after purchasing an additional 129 shares in the last quarter. Rosenberg Matthew Hamilton raised its stake in Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after purchasing an additional 133 shares during the period. Finally, CVA Family Office LLC lifted its holdings in shares of Shopify by 11.8% in the third quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock valued at $109,000 after purchasing an additional 143 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Performance

NYSE SHOP opened at $103.91 on Friday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $120.72. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The stock has a market cap of $134.26 billion, a P/E ratio of 97.11, a PEG ratio of 2.98 and a beta of 2.46. The company’s 50-day simple moving average is $107.35 and its 200 day simple moving average is $84.41.

Wall Street Analyst Weigh In

SHOP has been the topic of several recent analyst reports. Citigroup upped their price target on Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a research report on Monday, September 30th. KeyCorp increased their price target on shares of Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Robert W. Baird upped their price objective on shares of Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Scotiabank lifted their target price on shares of Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, October 24th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $70.00 price target on shares of Shopify in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $100.31.

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.