Masso Torrence Wealth Management Inc. decreased its position in Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) by 4.0% during the third quarter, HoldingsChannel.com reports. The firm owned 10,625 shares of the software maker’s stock after selling 440 shares during the quarter. Masso Torrence Wealth Management Inc.’s holdings in Shopify were worth $851,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Massmutual Trust Co. FSB ADV grew its position in Shopify by 7.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock worth $159,000 after purchasing an additional 129 shares during the period. CVA Family Office LLC boosted its stake in shares of Shopify by 11.8% in the 3rd quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock worth $109,000 after buying an additional 143 shares during the last quarter. Willis Johnson & Associates Inc. grew its holdings in shares of Shopify by 5.8% in the first quarter. Willis Johnson & Associates Inc. now owns 2,728 shares of the software maker’s stock worth $211,000 after acquiring an additional 149 shares during the period. Valley National Advisers Inc. increased its position in Shopify by 11.4% during the first quarter. Valley National Advisers Inc. now owns 1,482 shares of the software maker’s stock valued at $114,000 after acquiring an additional 152 shares during the last quarter. Finally, Wolff Wiese Magana LLC lifted its holdings in Shopify by 5.4% in the third quarter. Wolff Wiese Magana LLC now owns 2,974 shares of the software maker’s stock valued at $238,000 after acquiring an additional 152 shares during the period. 69.27% of the stock is currently owned by institutional investors.
Shopify Price Performance
SHOP traded down $0.77 during midday trading on Friday, hitting $79.05. 3,834,492 shares of the company traded hands, compared to its average volume of 9,176,214. The business has a 50 day simple moving average of $77.04 and a two-hundred day simple moving average of $69.07. Shopify Inc. has a 52-week low of $45.50 and a 52-week high of $91.57. The company has a market capitalization of $101.87 billion, a price-to-earnings ratio of -465.00, a PEG ratio of 2.73 and a beta of 2.36. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10.
Wall Street Analyst Weigh In
SHOP has been the subject of several research reports. Barclays upped their price target on shares of Shopify from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 1st. Wells Fargo & Company increased their price objective on shares of Shopify from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. Bank of America upgraded Shopify from a “neutral” rating to a “buy” rating and increased their price target for the stock from $78.00 to $82.00 in a research note on Tuesday, July 16th. JPMorgan Chase & Co. boosted their price objective on Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Finally, Evercore ISI lifted their target price on Shopify from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $80.21.
Check Out Our Latest Research Report on Shopify
About Shopify
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.
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