Regatta Capital Group LLC Trims Stock Holdings in Shopify Inc. (NYSE:SHOP)

Regatta Capital Group LLC lessened its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 15.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,793 shares of the software maker’s stock after selling 850 shares during the quarter. Regatta Capital Group LLC’s holdings in Shopify were worth $510,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Trust Co. of Vermont boosted its stake in shares of Shopify by 9.9% in the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after purchasing an additional 100 shares during the period. First United Bank & Trust lifted its holdings in Shopify by 2.2% during the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock worth $488,000 after buying an additional 100 shares in the last quarter. Sunbelt Securities Inc. boosted its position in Shopify by 0.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock valued at $1,162,000 after buying an additional 105 shares during the period. Redhawk Wealth Advisors Inc. grew its stake in shares of Shopify by 3.3% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock worth $357,000 after acquiring an additional 107 shares in the last quarter. Finally, Moser Wealth Advisors LLC increased its position in shares of Shopify by 1.4% during the third quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock worth $755,000 after acquiring an additional 128 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SHOP shares. Scotiabank lifted their target price on Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, October 24th. Wells Fargo & Company boosted their price objective on Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Truist Financial lifted their price objective on shares of Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. Finally, Citigroup increased their target price on Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a report on Monday, September 30th. 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 issued a strong buy rating to the company. According to data from MarketBeat, Shopify has an average rating of “Moderate Buy” and an average price target of $100.31.

Shopify Stock Performance

Shares of SHOP stock opened at $107.74 on Friday. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The stock has a 50 day simple moving average of $109.37 and a 200-day simple moving average of $86.92. The company has a market cap of $139.22 billion, a price-to-earnings ratio of 100.70, a price-to-earnings-growth ratio of 2.24 and a beta of 2.46. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $120.72.

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.