National Wealth Management Group LLC Sells 668 Shares of Shopify Inc. (NYSE:SHOP)

National Wealth Management Group LLC lessened its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 20.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,615 shares of the software maker’s stock after selling 668 shares during the quarter. National Wealth Management Group LLC’s holdings in Shopify were worth $210,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Oliver Lagore Vanvalin Investment Group raised its stake in Shopify by 100.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after acquiring an additional 200 shares in the last quarter. Brooklyn Investment Group acquired a new position in Shopify during the 3rd quarter worth approximately $33,000. Rosenberg Matthew Hamilton lifted its stake in Shopify by 41.3% in 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 last quarter. Cultivar Capital Inc. acquired a new stake in Shopify in the second quarter valued at approximately $33,000. Finally, Hazlett Burt & Watson Inc. bought a new stake in shares of Shopify during the second quarter worth $33,000. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Up 0.4 %

SHOP opened at $112.55 on Thursday. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $115.62. The firm has a market capitalization of $145.23 billion, a PE ratio of 105.19, a P/E/G ratio of 2.92 and a beta of 2.36. 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 company’s 50-day moving average is $87.75 and its 200 day moving average is $73.18.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SHOP. Oppenheimer increased their price target on Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Royal Bank of Canada lifted their price target on Shopify from $100.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price target on Shopify from $74.00 to $76.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. The Goldman Sachs Group raised their price objective on shares of Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Moffett Nathanson boosted their target price on shares of Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.84.

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.