Holistic Financial Partners Sells 511 Shares of Shopify Inc. (NYSE:SHOP)

Holistic Financial Partners lessened its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 14.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,036 shares of the software maker’s stock after selling 511 shares during the period. Holistic Financial Partners’ holdings in Shopify were worth $243,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Intech Investment Management LLC purchased a new stake in Shopify during the 1st quarter valued at $2,706,000. Edgestream Partners L.P. boosted its stake in shares of Shopify by 91.4% during the 1st quarter. Edgestream Partners L.P. now owns 6,083 shares of the software maker’s stock worth $469,000 after purchasing an additional 2,905 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in Shopify by 36.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 190,968 shares of the software maker’s stock valued at $14,739,000 after purchasing an additional 50,990 shares during the last quarter. Clearbridge Investments LLC raised its position in Shopify by 9.7% in the 1st quarter. Clearbridge Investments LLC now owns 3,057,440 shares of the software maker’s stock worth $235,943,000 after purchasing an additional 270,328 shares during the period. Finally, UniSuper Management Pty Ltd lifted its stake in Shopify by 96.6% in the first quarter. UniSuper Management Pty Ltd now owns 17,100 shares of the software maker’s stock worth $1,320,000 after purchasing an additional 8,400 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays increased their price target on Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Oppenheimer lifted their target price on Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Evercore boosted their target price on shares of Shopify from $75.00 to $80.00 in a research note on Thursday, August 8th. Robert W. Baird raised their price target on shares of Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $70.00 price objective on shares of Shopify in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.95.

Shopify Trading Down 0.5 %

Shopify stock opened at $108.49 on Monday. The company has a current ratio of 7.10, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. The firm has a market cap of $139.99 billion, a PE ratio of 101.39, a P/E/G ratio of 3.45 and a beta of 2.36. The stock’s 50 day simple moving average is $81.97 and its two-hundred day simple moving average is $71.03. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $115.62.

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.