Shopify Inc. (NYSE:SHOP) Shares Sold by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC lessened its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.8% during the 1st quarter, HoldingsChannel reports. The firm owned 10,438 shares of the software maker’s stock after selling 407 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Shopify were worth $997,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. LRI Investments LLC boosted its stake in Shopify by 9.8% during the 4th quarter. LRI Investments LLC now owns 889 shares of the software maker’s stock worth $94,000 after purchasing an additional 79 shares during the last quarter. Tidemark LLC boosted its stake in Shopify by 3.6% during the 4th quarter. Tidemark LLC now owns 2,592 shares of the software maker’s stock worth $276,000 after purchasing an additional 90 shares during the last quarter. Mark Sheptoff Financial Planning LLC boosted its stake in Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. Seven Mile Advisory boosted its stake in Shopify by 2.3% during the 4th quarter. Seven Mile Advisory now owns 5,068 shares of the software maker’s stock worth $539,000 after purchasing an additional 114 shares during the last quarter. Finally, Accurate Wealth Management LLC boosted its stake in Shopify by 4.0% during the 1st quarter. Accurate Wealth Management LLC now owns 3,408 shares of the software maker’s stock worth $325,000 after purchasing an additional 131 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

Shares of NYSE:SHOP opened at $105.97 on Thursday. The firm has a market capitalization of $137.48 billion, a PE ratio of 68.37, a price-to-earnings-growth ratio of 4.82 and a beta of 2.63. The firm’s 50-day moving average is $99.86 and its two-hundred day moving average is $104.96. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38.

Analyst Ratings Changes

Several brokerages have issued reports on SHOP. Wells Fargo & Company lifted their target price on shares of Shopify from $107.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, June 6th. Atb Cap Markets upgraded Shopify from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 8th. Capital One Financial upgraded Shopify from an “equal weight” rating to an “overweight” rating in a report on Thursday, May 8th. Loop Capital reduced their price target on Shopify from $150.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Finally, Benchmark reduced their price target on Shopify from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $115.66.

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.