Shopify Inc. (NYSE:SHOP) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC cut its stake in shares of Shopify Inc. (NYSE:SHOPFree Report) (TSE:SHOP) by 0.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 114,835 shares of the software maker’s stock after selling 503 shares during the quarter. Apollon Wealth Management LLC’s holdings in Shopify were worth $9,203,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Nations Financial Group Inc. IA ADV grew its stake in shares of Shopify by 4.6% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker’s stock worth $381,000 after purchasing an additional 209 shares during the period. TRU Independence Asset Management 2 LLC acquired a new stake in Shopify in the 3rd quarter valued at about $321,000. Chartwell Investment Partners LLC acquired a new stake in Shopify in the 3rd quarter valued at about $1,827,000. Ashton Thomas Securities LLC grew its stake in Shopify by 10.4% in the 3rd quarter. Ashton Thomas Securities LLC now owns 8,855 shares of the software maker’s stock valued at $710,000 after acquiring an additional 834 shares during the last quarter. Finally, Tyler Stone Wealth Management grew its stake in Shopify by 100.0% in the 3rd quarter. Tyler Stone Wealth Management now owns 7,920 shares of the software maker’s stock valued at $635,000 after acquiring an additional 3,960 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Price Performance

Shares of Shopify stock opened at $89.99 on Tuesday. The company’s 50-day moving average price is $78.41 and its two-hundred day moving average price is $69.79. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. The stock has a market cap of $116.12 billion, a PE ratio of 91.83, a price-to-earnings-growth ratio of 2.91 and a beta of 2.36. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $92.16.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Piper Sandler reissued a “neutral” rating and issued a $67.00 price objective on shares of Shopify in a research note on Thursday, August 29th. Cantor Fitzgerald reissued a “neutral” rating and issued a $70.00 price objective on shares of Shopify in a research note on Monday, October 7th. Argus upgraded shares of Shopify to a “strong-buy” rating in a report on Thursday, August 8th. Truist Financial reduced their target price 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. Finally, Loop Capital upped their target price on shares of Shopify from $80.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and an average target price of $81.03.

View Our Latest Research Report on Shopify

Shopify Company Profile

(Free Report)

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

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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