Claret Asset Management Corp trimmed its holdings in shares of Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) by 4.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 15,524 shares of the software maker’s stock after selling 681 shares during the period. Claret Asset Management Corp’s holdings in Shopify were worth $1,651,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its holdings in Shopify by 5.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 496,188 shares of the software maker’s stock valued at $52,761,000 after acquiring an additional 26,416 shares during the period. Forum Financial Management LP raised its position in Shopify by 70.8% in the fourth quarter. Forum Financial Management LP now owns 7,125 shares of the software maker’s stock valued at $758,000 after purchasing an additional 2,953 shares during the last quarter. Infusive Asset Management Inc. acquired a new position in Shopify in the 4th quarter valued at approximately $5,902,000. Capital International Ltd. CA raised its position in shares of Shopify by 12.8% during the fourth quarter. Capital International Ltd. CA now owns 400,051 shares of the software maker’s stock worth $42,537,000 after acquiring an additional 45,346 shares during the last quarter. Finally, Capital Group Investment Management PTE. LTD. boosted its holdings in Shopify by 13.2% in the fourth quarter. Capital Group Investment Management PTE. LTD. now owns 87,290 shares of the software maker’s stock valued at $9,282,000 after acquiring an additional 10,154 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.
Shopify Trading Down 0.4 %
Shares of SHOP stock opened at $83.65 on Friday. The business’s 50 day moving average is $100.46 and its two-hundred day moving average is $101.46. The company has a market capitalization of $108.31 billion, a P/E ratio of 53.97, a P/E/G ratio of 4.82 and a beta of 2.82. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38.
Wall Street Analyst Weigh In
SHOP has been the topic of a number of recent analyst reports. TD Securities boosted their price target on shares of Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a research report on Wednesday, February 12th. CIBC increased their price target on Shopify from $135.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. boosted their price objective on Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Truist Financial increased their price target on Shopify from $110.00 to $120.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. Finally, Canaccord Genuity Group raised their price objective on Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. One investment 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and an average target price of $120.94.
Check Out Our Latest Stock Analysis on Shopify
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.
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