AdvisorNet Financial Inc Trims Stake in Shopify Inc. (NYSE:SHOP)

AdvisorNet Financial Inc reduced its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 4,210 shares of the software maker’s stock after selling 100 shares during the period. AdvisorNet Financial Inc’s holdings in Shopify were worth $448,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Baillie Gifford & Co. raised its holdings in Shopify by 14.7% during the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after purchasing an additional 8,131,160 shares in the last quarter. FMR LLC lifted its holdings in Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after acquiring an additional 5,869,795 shares during the period. Mackenzie Financial Corp boosted its position in shares of Shopify by 49.9% during the 2nd quarter. Mackenzie Financial Corp now owns 6,315,028 shares of the software maker’s stock worth $417,386,000 after purchasing an additional 2,102,939 shares in the last quarter. Clearbridge Investments LLC grew its stake in shares of Shopify by 54.2% during the 2nd quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock worth $311,404,000 after purchasing an additional 1,657,251 shares during the period. Finally, National Bank of Canada FI increased its holdings in shares of Shopify by 28.0% in the 3rd quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after purchasing an additional 1,621,981 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Up 2.7 %

Shares of SHOP opened at $104.31 on Thursday. The stock has a market cap of $134.78 billion, a PE ratio of 97.49, a P/E/G ratio of 2.98 and a beta of 2.46. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The stock’s 50-day moving average is $108.26 and its two-hundred day moving average is $85.04. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $120.72.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. New Street Research initiated coverage on shares of Shopify in a research report on Friday, January 10th. They set a “neutral” rating and a $115.00 target price on the stock. Barclays upped their price target on Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Atb Cap Markets downgraded Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Wedbush upgraded shares of Shopify from a “neutral” rating to an “outperform” rating and raised their target price for the company from $115.00 to $125.00 in a report on Monday, January 6th. Finally, Mizuho increased their price target on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. One equities research 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Shopify has an average rating of “Moderate Buy” and a consensus price target of $100.31.

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, 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.