BLB&B Advisors LLC Sells 650 Shares of Shopify Inc. (NYSE:SHOP)

BLB&B Advisors LLC lowered its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,775 shares of the software maker’s stock after selling 650 shares during the period. BLB&B Advisors LLC’s holdings in Shopify were worth $1,039,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in shares of Shopify by 73.5% in the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after buying an additional 253 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its stake in Shopify by 7.1% in the third quarter. Dynamic Advisor Solutions LLC now owns 8,778 shares of the software maker’s stock valued at $703,000 after acquiring an additional 585 shares during the last quarter. CWM LLC grew its position in shares of Shopify by 14.9% in the 3rd quarter. CWM LLC now owns 14,097 shares of the software maker’s stock valued at $1,130,000 after acquiring an additional 1,832 shares during the period. Wedmont Private Capital acquired a new position in shares of Shopify during the 3rd quarter worth about $269,000. Finally, Tobam raised its holdings in shares of Shopify by 10.6% in the 3rd quarter. Tobam now owns 3,004 shares of the software maker’s stock valued at $241,000 after purchasing an additional 287 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. The Goldman Sachs Group lifted their price target on Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and set a $130.00 target price on shares of Shopify in a report on Wednesday, January 22nd. Truist Financial raised their price target on Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, November 13th. Wells Fargo & Company upped their price objective on shares of Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, Atb Cap Markets cut shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $100.32.

Shopify Price Performance

Shares of SHOP stock opened at $117.33 on Friday. The business has a fifty day simple moving average of $110.88 and a 200 day simple moving average of $90.15. The company has a market cap of $151.60 billion, a P/E ratio of 109.65, a P/E/G ratio of 2.49 and a beta of 2.47. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $122.81.

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.