LVW Advisors LLC Lowers Stock Position in Shopify Inc. (NYSE:SHOP)

LVW Advisors LLC trimmed its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 12.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,749 shares of the software maker’s stock after selling 398 shares during the period. LVW Advisors LLC’s holdings in Shopify were worth $292,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in SHOP. AE Wealth Management LLC boosted its position in shares of Shopify by 4.9% during the second quarter. AE Wealth Management LLC now owns 48,969 shares of the software maker’s stock worth $3,234,000 after buying an additional 2,306 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Shopify by 23.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,020 shares of the software maker’s stock valued at $185,000 after acquiring an additional 581 shares during the period. DRW Securities LLC acquired a new position in Shopify in the 2nd quarter valued at about $301,000. Beck Capital Management LLC acquired a new position in Shopify in the 2nd quarter valued at about $2,381,000. Finally, Evergreen Capital Management LLC increased its stake in Shopify by 12.9% during the second quarter. Evergreen Capital Management LLC now owns 10,508 shares of the software maker’s stock worth $694,000 after purchasing an additional 1,201 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Oppenheimer lifted their price objective on shares of Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Loop Capital upgraded shares of Shopify from a “hold” rating to a “buy” rating and boosted their price target for the stock from $110.00 to $140.00 in a research note on Friday, December 6th. Citigroup increased their price objective on Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Scotiabank boosted their target price on Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group increased their price target on Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.31.

Shopify Stock Performance

NYSE SHOP opened at $103.25 on Tuesday. The stock has a market capitalization of $133.41 billion, a price-to-earnings ratio of 96.50, a PEG ratio of 2.18 and a beta of 2.46. The business’s 50 day moving average is $109.39 and its two-hundred day moving average is $85.84. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $120.72. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09.

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.