Shopify Inc. (NYSE:SHOP) Stock Holdings Lessened by Cassaday & Co Wealth Management LLC

Cassaday & Co Wealth Management LLC lessened its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.0% in the third quarter, Holdings Channel.com reports. The fund owned 3,425 shares of the software maker’s stock after selling 142 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in Shopify were worth $274,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Oliver Lagore Vanvalin Investment Group increased its position in shares of Shopify by 100.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after acquiring an additional 200 shares in the last quarter. Rosenberg Matthew Hamilton lifted its position in shares of Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after acquiring an additional 133 shares in the last quarter. Cultivar Capital Inc. acquired a new position in Shopify in the 2nd quarter worth approximately $33,000. Hazlett Burt & Watson Inc. purchased a new position in Shopify during the 2nd quarter worth approximately $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Shopify during the 2nd quarter worth approximately $39,000. 69.27% of the stock is owned by institutional investors.

Shopify Trading Down 2.4 %

Shares of Shopify stock opened at $105.90 on Tuesday. The company has a market cap of $136.65 billion, a price-to-earnings ratio of 98.97, a PEG ratio of 3.45 and a beta of 2.36. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $115.62. The company’s fifty day simple moving average is $82.73 and its 200-day simple moving average is $71.27. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.10.

Analyst Ratings Changes

Several brokerages have recently commented on SHOP. The Goldman Sachs Group raised their target price on Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Evercore ISI raised their price objective on Shopify from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Oppenheimer upped their target price on Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Evercore increased their price target on shares of Shopify from $75.00 to $80.00 in a research report on Thursday, August 8th. Finally, Redburn Atlantic raised shares of 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. One equities research 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 given a strong buy rating to the company. According to data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.95.

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.