Wolff Wiese Magana LLC Sells 131 Shares of Shopify Inc. (NYSE:SHOP)

Wolff Wiese Magana LLC lessened its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,843 shares of the software maker’s stock after selling 131 shares during the period. Wolff Wiese Magana LLC’s holdings in Shopify were worth $302,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SHOP. Smith Anglin Financial LLC bought a new stake in shares of Shopify in the fourth quarter worth about $212,000. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Shopify by 45.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 862 shares of the software maker’s stock worth $92,000 after buying an additional 271 shares during the last quarter. Park Avenue Securities LLC grew its position in shares of Shopify by 22.6% in the 4th quarter. Park Avenue Securities LLC now owns 35,278 shares of the software maker’s stock worth $3,751,000 after buying an additional 6,505 shares during the last quarter. SS&H Financial Advisors Inc. purchased a new position in shares of Shopify during the fourth quarter valued at approximately $247,000. Finally, Fifth Third Wealth Advisors LLC bought a new position in shares of Shopify during the fourth quarter valued at approximately $273,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Trading Up 2.5 %

NYSE:SHOP opened at $104.14 on Wednesday. Shopify Inc. has a one year low of $48.56 and a one year high of $120.72. The business has a fifty day moving average price of $108.26 and a 200-day moving average price of $85.04. The firm has a market capitalization of $134.56 billion, a price-to-earnings ratio of 97.33, a price-to-earnings-growth ratio of 2.98 and a beta of 2.46. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Canaccord Genuity Group boosted their price objective on shares of Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Mizuho boosted their price target on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Wells Fargo & Company raised their price objective on shares of Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Moffett Nathanson upped their target price on Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Finally, The Goldman Sachs Group raised their target price on Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.31.

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.