Arkadios Wealth Advisors Trims Stock Position in Shopify Inc. (NYSE:SHOP)

Arkadios Wealth Advisors cut its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,026 shares of the software maker’s stock after selling 460 shares during the quarter. Arkadios Wealth Advisors’ holdings in Shopify were worth $1,385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of SHOP. Oliver Lagore Vanvalin Investment Group grew its holdings in shares of Shopify by 100.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after purchasing an additional 200 shares in the last quarter. Brooklyn Investment Group purchased a new position in Shopify in the 3rd quarter worth approximately $33,000. Rosenberg Matthew Hamilton increased its holdings in shares of Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after buying an additional 133 shares during the last quarter. Truvestments Capital LLC purchased a new stake in shares of Shopify during the 3rd quarter valued at $45,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Shopify by 73.5% during the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock worth $48,000 after acquiring an additional 253 shares during the last quarter. 69.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SHOP shares. Robert W. Baird increased their target price on Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group raised their price objective on Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Wedbush upgraded Shopify from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $115.00 to $125.00 in a research report on Monday, January 6th. Moffett Nathanson increased their price target on shares of Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Truist Financial boosted their price objective on shares of Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Shopify has a consensus rating of “Moderate Buy” and a consensus target price of $100.31.

Shopify Stock Down 0.2 %

Shares of SHOP stock opened at $103.25 on Monday. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $120.72. The stock has a market cap of $133.41 billion, a P/E ratio of 96.50, a P/E/G ratio of 2.18 and a beta of 2.46. The company has a 50 day simple moving average of $109.39 and a two-hundred day simple moving average of $85.70.

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.