Shopify Inc. (NYSE:SHOP) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC lowered its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 562,176 shares of the software maker’s stock after selling 325 shares during the quarter. Fisher Asset Management LLC’s holdings in Shopify were worth $45,053,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SHOP. Oliver Lagore Vanvalin Investment Group grew its position in Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after purchasing an additional 200 shares during the period. Cultivar Capital Inc. acquired a new stake in Shopify during the second quarter worth about $33,000. Hazlett Burt & Watson Inc. purchased a new position in Shopify during the second quarter valued at approximately $33,000. Rosenberg Matthew Hamilton lifted its holdings in Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after acquiring an additional 133 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Shopify in the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

SHOP has been the subject of several analyst reports. Citigroup boosted their target price on shares of Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. upped their price objective on shares of Shopify from $74.00 to $76.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Mizuho raised their target price on Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft upped their price target on Shopify from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Canaccord Genuity Group raised their price objective on Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $95.84.

Shopify Stock Performance

NYSE SHOP opened at $112.08 on Wednesday. The stock has a fifty day simple moving average of $87.00 and a 200-day simple moving average of $72.90. 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 stock has a market cap of $144.63 billion, a PE ratio of 104.75, a P/E/G ratio of 2.81 and a beta of 2.36. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $115.62.

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.