Capital Investment Advisors LLC Sells 174 Shares of Shopify Inc. (NYSE:SHOP)

Capital Investment Advisors LLC decreased its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,003 shares of the software maker’s stock after selling 174 shares during the period. Capital Investment Advisors LLC’s holdings in Shopify were worth $426,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of SHOP. Baillie Gifford & Co. raised its stake in Shopify by 14.7% in the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after buying an additional 8,131,160 shares in the last quarter. FMR LLC raised its stake in Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after buying an additional 5,869,795 shares in the last quarter. Mackenzie Financial Corp raised its stake in Shopify by 49.9% in the second quarter. Mackenzie Financial Corp now owns 6,315,028 shares of the software maker’s stock worth $417,386,000 after buying an additional 2,102,939 shares in the last quarter. Clearbridge Investments LLC raised its stake in Shopify by 54.2% in the second quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock worth $311,404,000 after buying an additional 1,657,251 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in Shopify by 28.0% in the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock worth $593,588,000 after buying an additional 1,621,981 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SHOP shares. The Goldman Sachs Group upped their price target on Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Citigroup upped their price target on Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Oppenheimer upped their price target on Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Royal Bank of Canada upped their price target on Shopify from $100.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Robert W. Baird upped their price target on Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and an average price target of $100.31.

Shopify Price Performance

NYSE:SHOP opened at $104.31 on Thursday. The firm’s fifty day moving average is $108.26 and its two-hundred day moving average is $85.04. The firm has a market cap of $134.78 billion, a price-to-earnings ratio of 97.49, a PEG ratio of 2.98 and a beta of 2.46. Shopify Inc. has a one year low of $48.56 and a one year high of $120.72. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10.

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.