Lantz Financial LLC Decreases Stake in Shopify Inc. (NYSE:SHOP)

Lantz Financial LLC lessened its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,490 shares of the software maker’s stock after selling 162 shares during the quarter. Lantz Financial LLC’s holdings in Shopify were worth $265,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Baillie Gifford & Co. grew its holdings in Shopify by 14.7% in the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after purchasing an additional 8,131,160 shares during the last quarter. FMR LLC grew its stake in Shopify by 16.1% in the 3rd 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 last quarter. Legal & General Group Plc grew its stake in Shopify by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 8,233,517 shares of the software maker’s stock valued at $544,017,000 after acquiring an additional 145,618 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Shopify by 6.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker’s stock valued at $658,248,000 after acquiring an additional 484,561 shares in the last quarter. Finally, National Bank of Canada FI raised its position in Shopify by 28.0% during the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock worth $593,588,000 after acquiring an additional 1,621,981 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SHOP shares. Royal Bank of Canada reissued an “outperform” rating and set a $130.00 price target on shares of Shopify in a research report on Wednesday. Moffett Nathanson boosted their target price on shares of Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. JMP Securities reaffirmed a “market outperform” rating and set a $120.00 price target on shares of Shopify in a research note on Thursday, December 12th. KeyCorp boosted their price objective on shares of Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Finally, Atb Cap Markets lowered shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $100.31.

Shopify Stock Up 1.5 %

Shares of NYSE SHOP opened at $107.74 on Friday. 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 has a 50-day moving average price of $109.37 and a 200-day moving average price of $86.92. The stock has a market capitalization of $139.22 billion, a P/E ratio of 100.70, a P/E/G ratio of 2.24 and a beta of 2.46. Shopify Inc. has a 1 year low of $48.56 and a 1 year 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.