Alan B Lancz & Associates Inc. Sells 1,000 Shares of Shopify Inc. (NYSE:SHOP)

Alan B Lancz & Associates Inc. cut its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 15.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Baillie Gifford & Co. boosted its stake in shares of Shopify by 14.7% during the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after purchasing an additional 8,131,160 shares during the period. FMR LLC boosted its position in Shopify by 16.1% during the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after buying an additional 5,869,795 shares during the period. Legal & General Group Plc grew its holdings in Shopify by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 8,233,517 shares of the software maker’s stock worth $544,017,000 after acquiring an additional 145,618 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Shopify by 6.3% in the third quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker’s stock valued at $658,248,000 after acquiring an additional 484,561 shares during the period. Finally, National Bank of Canada FI raised its stake in shares of Shopify by 28.0% during the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after acquiring an additional 1,621,981 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SHOP. KeyCorp raised their target price on Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Wedbush upgraded Shopify from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $115.00 to $125.00 in a research report on Monday, January 6th. Piper Sandler upped their target price on Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. New Street Research began coverage on shares of Shopify in a report on Friday, January 10th. They issued a “neutral” rating and a $115.00 price target on the stock. Finally, Canaccord Genuity Group upped their price objective on shares of Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a 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 given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and an average target price of $100.31.

Shopify Stock Performance

NYSE:SHOP opened at $107.74 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The company has a market cap of $139.22 billion, a price-to-earnings ratio of 100.70, a PEG ratio of 2.24 and a beta of 2.46. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $120.72. The stock’s 50 day simple moving average is $109.37 and its two-hundred day simple moving average 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.