Nwam LLC Sells 405 Shares of Shopify Inc. (NYSE:SHOP)

Nwam LLC lowered its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 8.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,151 shares of the software maker’s stock after selling 405 shares during the quarter. Nwam LLC’s holdings in Shopify were worth $333,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Meridian Wealth Management LLC raised its stake in shares of Shopify by 24.1% during the third quarter. Meridian Wealth Management LLC now owns 115,781 shares of the software maker’s stock worth $9,279,000 after acquiring an additional 22,502 shares in the last quarter. Raymond James Trust N.A. raised its position in Shopify by 121.3% in the 3rd quarter. Raymond James Trust N.A. now owns 24,813 shares of the software maker’s stock worth $1,989,000 after purchasing an additional 13,600 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Shopify by 6.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,416,436 shares of the software maker’s stock worth $193,802,000 after purchasing an additional 136,530 shares during the last quarter. Banco Santander S.A. lifted its position in Shopify by 0.6% in the third quarter. Banco Santander S.A. now owns 72,177 shares of the software maker’s stock valued at $5,784,000 after purchasing an additional 454 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Shopify by 52.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker’s stock valued at $308,390,000 after purchasing an additional 1,325,350 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on SHOP. Loop Capital lifted their target price on shares of Shopify from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Evercore ISI upped their price objective on shares of Shopify from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Royal Bank of Canada raised their target price on Shopify from $100.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Mizuho upped their price target on Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Finally, Argus upgraded Shopify to a “strong-buy” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $94.95.

Shopify Stock Performance

Shares of NYSE SHOP opened at $106.96 on Monday. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The firm’s 50-day moving average price is $85.50 and its 200-day moving average price is $72.18. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $115.62. The company has a market cap of $138.02 billion, a PE ratio of 99.96, a PEG ratio of 2.81 and a beta of 2.36.

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.