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

Nwam LLC lessened its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 8.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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.

Other institutional investors also recently modified their holdings of the company. Moser Wealth Advisors LLC raised its holdings 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 worth $755,000 after buying an additional 128 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in Shopify by 7.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock valued at $159,000 after acquiring an additional 129 shares during the last quarter. Rosenberg Matthew Hamilton lifted its holdings in shares of 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 acquiring an additional 133 shares during the last quarter. CVA Family Office LLC boosted its stake in shares of Shopify by 11.8% in the 3rd quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock valued at $109,000 after purchasing an additional 143 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC grew its holdings in shares of Shopify by 3.5% during the 3rd quarter. Twin Peaks Wealth Advisors LLC now owns 4,282 shares of the software maker’s stock valued at $343,000 after purchasing an additional 145 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Up 0.5 %

Shares of NYSE SHOP opened at $106.96 on Monday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $115.62. The stock has a market capitalization of $138.02 billion, a P/E ratio of 99.96, a P/E/G ratio of 2.81 and a beta of 2.36. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The company has a 50-day moving average price of $85.50 and a 200-day moving average price of $72.18.

Analyst Upgrades and Downgrades

SHOP has been the subject of a number of research reports. Piper Sandler increased 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. Wedbush reiterated a “neutral” rating and issued a $115.00 target price (up from $72.00) on shares of Shopify in a research report on Tuesday, November 12th. Evercore ISI upped their price objective on Shopify from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Argus upgraded shares of Shopify to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Loop Capital boosted their target price on shares of Shopify from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $94.95.

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.