Woodward Diversified Capital LLC Has $1.60 Million Holdings in Shopify Inc. (NYSE:SHOP)

Woodward Diversified Capital LLC lowered its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 9.3% during the fourth quarter, HoldingsChannel reports. The fund owned 15,035 shares of the software maker’s stock after selling 1,535 shares during the quarter. Shopify makes up about 1.2% of Woodward Diversified Capital LLC’s portfolio, making the stock its 13th biggest holding. Woodward Diversified Capital LLC’s holdings in Shopify were worth $1,599,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Trust Co. of Vermont raised its stake in shares of Shopify by 9.9% in the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after purchasing an additional 100 shares in the last quarter. First United Bank & Trust raised its stake in shares of Shopify by 2.2% in the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock valued at $488,000 after buying an additional 100 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of Shopify by 0.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock worth $1,162,000 after acquiring an additional 105 shares during the period. Redhawk Wealth Advisors Inc. boosted its position in shares of Shopify by 3.3% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock valued at $357,000 after acquiring an additional 107 shares in the last quarter. Finally, Moser Wealth Advisors LLC boosted its position in shares of Shopify by 1.4% during the 3rd quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock valued at $755,000 after acquiring an additional 128 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Trading Down 1.1 %

NYSE SHOP opened at $117.33 on Friday. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $122.81. The stock has a 50-day simple moving average of $110.88 and a 200 day simple moving average of $90.15. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $151.60 billion, a PE ratio of 109.65, a P/E/G ratio of 2.49 and a beta of 2.47.

Analyst Ratings Changes

A number of research analysts have commented on SHOP shares. Moffett Nathanson raised their price target on shares of Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Wedbush upgraded Shopify from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $115.00 to $125.00 in a research report on Monday, January 6th. Piper Sandler boosted their price target on Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Robert W. Baird increased their price objective on Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Loop Capital raised Shopify from a “hold” rating to a “buy” rating and lifted their price objective for the company from $110.00 to $140.00 in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Shopify has an average rating of “Moderate Buy” and an average target price of $100.32.

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.