Alan B Lancz & Associates Inc. Cuts Stock Holdings in Shopify Inc. (NYSE:SHOP)

Alan B Lancz & Associates Inc. reduced its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 15.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,350 shares of the software maker’s stock after selling 1,000 shares during the quarter. Alan B Lancz & Associates Inc.’s holdings in Shopify were worth $569,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SHOP. Jacksonville Wealth Management LLC purchased a new position in shares of Shopify in the 4th quarter worth approximately $914,000. Arkfeld Wealth Strategies L.L.C. boosted its position in Shopify by 12.4% in the fourth quarter. Arkfeld Wealth Strategies L.L.C. now owns 12,056 shares of the software maker’s stock worth $1,227,000 after purchasing an additional 1,326 shares during the last quarter. Flagship Harbor Advisors LLC grew its stake in Shopify by 1.2% in the 4th quarter. Flagship Harbor Advisors LLC now owns 45,766 shares of the software maker’s stock valued at $4,866,000 after purchasing an additional 541 shares during the period. B.O.S.S. Retirement Advisors LLC purchased a new stake in shares of Shopify during the 4th quarter valued at $1,204,000. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Shopify during the 4th quarter valued at $36,510,000. 69.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on SHOP. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Scotiabank raised their price target on shares of Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 24th. Wedbush upgraded Shopify from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $115.00 to $125.00 in a research note on Monday, January 6th. Wells Fargo & Company raised their target price on Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, New Street Research assumed coverage on Shopify in a research report on Friday, January 10th. They set a “neutral” rating and a $115.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.31.

Shopify Price Performance

Shares of Shopify stock opened at $107.74 on Friday. The firm has a market capitalization of $139.22 billion, a PE ratio of 100.70, a price-to-earnings-growth ratio of 2.24 and a beta of 2.46. 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 Inc. has a 12 month low of $48.56 and a 12 month high of $120.72. The business’s 50-day moving average price is $109.37 and its 200-day moving average price is $86.92.

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.