LPL Financial LLC Sells 14,276 Shares of Canopy Growth Co. (NASDAQ:CGC)

LPL Financial LLC decreased its holdings in shares of Canopy Growth Co. (NASDAQ:CGC) by 19.3% in the fourth quarter, HoldingsChannel reports. The fund owned 59,632 shares of the company’s stock after selling 14,276 shares during the quarter. LPL Financial LLC’s holdings in Canopy Growth were worth $163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CGC. Concurrent Investment Advisors LLC lifted its holdings in Canopy Growth by 26.6% during the fourth quarter. Concurrent Investment Advisors LLC now owns 24,644 shares of the company’s stock valued at $68,000 after purchasing an additional 5,172 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Canopy Growth by 222.9% during the 4th quarter. Jones Financial Companies Lllp now owns 9,315 shares of the company’s stock valued at $26,000 after buying an additional 6,430 shares in the last quarter. Apollon Wealth Management LLC purchased a new position in shares of Canopy Growth during the 4th quarter valued at $38,000. Alberta Investment Management Corp bought a new position in Canopy Growth in the 4th quarter worth $264,000. Finally, Wealthfront Advisers LLC purchased a new stake in Canopy Growth in the 4th quarter worth $381,000. 3.33% of the stock is currently owned by hedge funds and other institutional investors.

Canopy Growth Price Performance

Shares of Canopy Growth stock opened at $1.38 on Thursday. The company has a market capitalization of $253.73 million, a price-to-earnings ratio of -0.36 and a beta of 0.92. The company has a quick ratio of 2.58, a current ratio of 3.52 and a debt-to-equity ratio of 0.74. The stock’s 50-day simple moving average is $1.14 and its 200-day simple moving average is $2.51. Canopy Growth Co. has a 52 week low of $0.77 and a 52 week high of $14.10.

Canopy Growth Company Profile

Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in the United States, Canada, Germany, and internationally. It operates through Canada Cannabis, International Markets Cannabis, and Storz & Bickel segments.