Shopify Inc. (NYSE:SHOP) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC cut its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 49,414 shares of the software maker’s stock after selling 874 shares during the period. Gateway Investment Advisers LLC’s holdings in Shopify were worth $5,254,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Oliver Lagore Vanvalin Investment Group lifted its stake in shares of 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 buying an additional 200 shares during the period. Brooklyn Investment Group purchased a new position in shares of Shopify in the third quarter worth about $33,000. Rosenberg Matthew Hamilton lifted 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 acquiring an additional 133 shares during the period. Truvestments Capital LLC acquired a new position in Shopify during the third quarter valued at $45,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Shopify by 73.5% in the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after buying an additional 253 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

SHOP has been the topic of a number of recent analyst reports. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Mizuho upped their price target on Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Scotiabank lifted their price target 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. Canaccord Genuity Group boosted their price objective on Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Wedbush raised Shopify from a “neutral” rating to an “outperform” rating and increased their price target for the company from $115.00 to $125.00 in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and an average price target of $100.31.

Shopify Price Performance

Shopify stock opened at $103.25 on Friday. The stock has a market cap of $133.41 billion, a P/E ratio of 96.50, a price-to-earnings-growth ratio of 2.18 and a beta of 2.46. 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 company has a fifty day simple moving average of $109.06 and a 200-day simple moving average of $85.30. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $120.72.

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.