Grandview Asset Management LLC Lowers Stock Position in Shopify Inc. (NYSE:SHOP)

Grandview Asset Management LLC trimmed its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 13.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,619 shares of the software maker’s stock after selling 1,161 shares during the quarter. Grandview Asset Management LLC’s holdings in Shopify were worth $810,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of SHOP. Oliver Lagore Vanvalin Investment Group raised its position in shares of Shopify by 100.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after acquiring an additional 200 shares in the last quarter. Brooklyn Investment Group purchased a new position in Shopify in the third quarter valued at about $33,000. Rosenberg Matthew Hamilton raised its holdings in Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of Shopify during the third quarter valued at about $45,000. Finally, 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 in the last quarter. Institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on SHOP. Scotiabank increased their target price on shares of Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, October 24th. Canaccord Genuity Group raised their price objective on Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. New Street Research started coverage on Shopify in a research report on Friday. They set a “neutral” rating and a $115.00 target price on the stock. Robert W. Baird raised their price target on Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Truist Financial upped their price objective on shares of Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $100.31.

Shopify Stock Performance

NYSE SHOP opened at $101.67 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $120.72. The company has a market cap of $131.37 billion, a PE ratio of 95.02, a price-to-earnings-growth ratio of 2.98 and a beta of 2.46. The stock’s 50 day simple moving average is $107.82 and its 200-day simple moving average is $84.79.

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.