Perpetual Ltd Sells 14,976 Shares of Shopify Inc. (NYSE:SHOP)

Perpetual Ltd decreased its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 7.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 178,537 shares of the software maker’s stock after selling 14,976 shares during the quarter. Perpetual Ltd’s holdings in Shopify were worth $18,984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Trust Co. of Vermont lifted its holdings in shares of Shopify by 9.9% in the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock worth $118,000 after acquiring an additional 100 shares during the last quarter. First United Bank & Trust lifted its stake in Shopify by 2.2% in the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock worth $488,000 after purchasing an additional 100 shares during the last quarter. Sunbelt Securities Inc. lifted its stake in Shopify by 0.7% in the third quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock worth $1,162,000 after purchasing an additional 105 shares during the last quarter. Redhawk Wealth Advisors Inc. boosted its position in Shopify by 3.3% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock valued at $357,000 after buying an additional 107 shares during the period. Finally, Moser Wealth Advisors LLC grew its stake in shares of Shopify by 1.4% during the third quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock valued at $755,000 after buying an additional 128 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

SHOP has been the subject of a number of recent research reports. JMP Securities reissued a “market outperform” rating and issued a $120.00 target price on shares of Shopify in a research note on Thursday, December 12th. Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and boosted their price objective for the company from $110.00 to $140.00 in a research report on Friday, December 6th. Barclays raised their target price on shares of Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Royal Bank of Canada upped their price target on shares of Shopify from $100.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Citigroup raised their price target on shares of Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, September 30th. One investment 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $100.31.

Shopify Trading Down 0.2 %

NYSE SHOP opened at $103.25 on Tuesday. 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. The stock’s fifty day moving average price is $109.39 and its 200-day moving average price is $85.84. The stock has a market cap of $133.41 billion, a P/E ratio of 96.50, a P/E/G ratio of 2.17 and a beta of 2.46.

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.