Harbor Capital Advisors Inc. Sells 11,692 Shares of Shopify Inc. (NYSE:SHOP)

Harbor Capital Advisors Inc. trimmed its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 34.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,647 shares of the software maker’s stock after selling 11,692 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Shopify were worth $2,408,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. raised its position in Shopify by 78.7% in the 2nd quarter. Victory Capital Management Inc. now owns 147,285 shares of the software maker’s stock valued at $9,728,000 after purchasing an additional 64,856 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Shopify by 61.1% in the second quarter. American Century Companies Inc. now owns 1,444,714 shares of the software maker’s stock valued at $95,439,000 after buying an additional 547,700 shares during the last quarter. BOKF NA grew its holdings in Shopify by 36.2% during the 2nd quarter. BOKF NA now owns 7,794 shares of the software maker’s stock worth $515,000 after acquiring an additional 2,072 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in Shopify by 23.3% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 26,582 shares of the software maker’s stock worth $1,756,000 after acquiring an additional 5,026 shares during the last quarter. Finally, HBK Sorce Advisory LLC raised its stake in shares of Shopify by 8.0% in the second quarter. HBK Sorce Advisory LLC now owns 7,033 shares of the software maker’s stock worth $465,000 after acquiring an additional 522 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of SHOP opened at $103.91 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. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $120.72. The firm has a fifty day simple moving average of $107.35 and a 200 day simple moving average of $84.41. The stock has a market capitalization of $134.26 billion, a price-to-earnings ratio of 97.11, a PEG ratio of 2.98 and a beta of 2.46.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SHOP shares. JMP Securities reissued a “market outperform” rating and set a $120.00 price target on shares of Shopify in a research note on Thursday, December 12th. Redburn Atlantic upgraded Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price objective on the stock in a research report on Tuesday, September 17th. Moffett Nathanson upped their price target on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Citigroup lifted their price objective on Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Canaccord Genuity Group upped their target price 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. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.31.

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.