Shopify Inc. (NYSE:SHOP) Holdings Decreased by IFP Advisors Inc

IFP Advisors Inc cut its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 55.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,182 shares of the software maker’s stock after selling 12,747 shares during the quarter. IFP Advisors Inc’s holdings in Shopify were worth $972,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital World Investors grew its stake in shares of Shopify by 0.9% in the 4th quarter. Capital World Investors now owns 53,102,707 shares of the software maker’s stock valued at $5,646,455,000 after buying an additional 496,982 shares in the last quarter. FMR LLC lifted its holdings in shares of Shopify by 3.4% during the fourth quarter. FMR LLC now owns 43,732,077 shares of the software maker’s stock worth $4,653,054,000 after buying an additional 1,426,000 shares during the last quarter. Capital International Investors lifted its holdings in shares of Shopify by 2.7% during the fourth quarter. Capital International Investors now owns 36,516,305 shares of the software maker’s stock worth $3,883,039,000 after buying an additional 968,026 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Shopify by 79.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock valued at $1,752,834,000 after purchasing an additional 7,316,862 shares in the last quarter. Finally, FIL Ltd boosted its stake in Shopify by 11.9% during the fourth quarter. FIL Ltd now owns 15,774,148 shares of the software maker’s stock worth $1,678,865,000 after buying an additional 1,682,326 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Mizuho dropped their price objective on Shopify from $110.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group dropped their price objective on Shopify from $150.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Loop Capital downgraded shares of Shopify from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research report on Tuesday. Royal Bank Of Canada upped their price target on shares of Shopify from $125.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, July 18th. Finally, Needham & Company LLC initiated coverage on shares of Shopify in a research report on Monday, July 14th. They set a “buy” rating and a $135.00 price target on the stock. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Shopify currently has an average rating of “Moderate Buy” and a consensus price target of $119.16.

Shopify Price Performance

Shares of NYSE:SHOP opened at $122.21 on Thursday. The company has a market capitalization of $158.55 billion, a P/E ratio of 78.85, a P/E/G ratio of 4.82 and a beta of 2.61. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The business’s 50 day simple moving average is $111.54 and its 200 day simple moving average is $105.74.

Shopify 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.