Stratos Wealth Partners LTD. Decreases Holdings in Shopify Inc. (NYSE:SHOP)

Stratos Wealth Partners LTD. reduced its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 10.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,816 shares of the software maker’s stock after selling 2,816 shares during the period. Stratos Wealth Partners LTD.’s holdings in Shopify were worth $2,532,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Shopify by 73.5% during the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock worth $48,000 after buying an additional 253 shares during the last quarter. Dynamic Advisor Solutions LLC increased its holdings in Shopify by 7.1% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 8,778 shares of the software maker’s stock valued at $703,000 after acquiring an additional 585 shares in the last quarter. CWM LLC raised its position in Shopify by 14.9% during the third quarter. CWM LLC now owns 14,097 shares of the software maker’s stock worth $1,130,000 after acquiring an additional 1,832 shares during the last quarter. Wedmont Private Capital purchased a new stake in shares of Shopify in the third quarter valued at about $269,000. Finally, Tobam grew its position in shares of Shopify by 10.6% in the third quarter. Tobam now owns 3,004 shares of the software maker’s stock valued at $241,000 after purchasing an additional 287 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on SHOP. Atb Cap Markets downgraded Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group boosted their price target on Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Mizuho increased their price objective on Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Moffett Nathanson boosted their target price on shares of Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, Oppenheimer raised their price target on shares of Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $100.32.

Shopify Stock Down 1.1 %

Shares of NYSE:SHOP opened at $117.33 on Friday. The company has a 50 day moving average of $110.88 and a two-hundred day moving average of $90.15. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $122.81. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $151.60 billion, a price-to-earnings ratio of 109.65, a price-to-earnings-growth ratio of 2.46 and a beta of 2.47.

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.