Strategic Planning Group LLC Trims Holdings in Shopify Inc. (NYSE:SHOP)

Strategic Planning Group LLC reduced its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,526 shares of the software maker’s stock after selling 128 shares during the period. Shopify accounts for about 1.2% of Strategic Planning Group LLC’s investment portfolio, making the stock its 25th largest holding. Strategic Planning Group LLC’s holdings in Shopify were worth $6,329,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Brooklyn Investment Group purchased a new stake in Shopify during the 3rd quarter valued at $33,000. Rosenberg Matthew Hamilton lifted its holdings in shares of Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after purchasing an additional 133 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of Shopify during the third quarter valued at $45,000. GAMMA Investing LLC boosted its position in shares of Shopify by 73.5% during the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after buying an additional 253 shares during the last quarter. Finally, Modus Advisors LLC bought a new stake in Shopify in the 4th quarter worth about $64,000. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 0.7 %

Shares of NYSE:SHOP opened at $116.69 on Thursday. The business’s 50-day moving average is $109.65 and its 200 day moving average is $87.89. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $120.72. The firm has a market capitalization of $150.77 billion, a P/E ratio of 109.05, a P/E/G ratio of 2.24 and a beta of 2.46.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SHOP shares. Cantor Fitzgerald restated a “neutral” rating and issued a $70.00 target price on shares of Shopify in a report on Monday, October 7th. Truist Financial raised their price target on Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, November 13th. Robert W. Baird upped their price objective on Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $130.00 target price on shares of Shopify in a report on Wednesday, January 22nd. Finally, Moffett Nathanson boosted 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. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $100.32.

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.