Private Wealth Partners LLC Cuts Stake in Shopify Inc. (NYSE:SHOP)

Private Wealth Partners LLC lowered its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 60.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,960 shares of the software maker’s stock after selling 12,035 shares during the quarter. Private Wealth Partners LLC’s holdings in Shopify were worth $760,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Capital World Investors boosted its stake in Shopify by 0.9% in the fourth quarter. Capital World Investors now owns 53,102,707 shares of the software maker’s stock valued at $5,646,455,000 after acquiring an additional 496,982 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Shopify by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker’s stock worth $5,010,721,000 after purchasing an additional 781,162 shares during the period. FMR LLC lifted its stake in Shopify by 3.4% in the fourth quarter. FMR LLC now owns 43,732,077 shares of the software maker’s stock valued at $4,653,054,000 after purchasing an additional 1,426,000 shares during the last quarter. Capital International Investors lifted its stake in Shopify by 2.7% in the fourth quarter. Capital International Investors now owns 36,516,305 shares of the software maker’s stock valued at $3,883,039,000 after purchasing an additional 968,026 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Shopify by 79.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock valued at $1,752,834,000 after purchasing an additional 7,316,862 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Mizuho decreased their target price on Shopify from $110.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Barclays cut their price target on Shopify from $100.00 to $94.00 and set an “equal weight” rating for the company in a research note on Friday, May 9th. Royal Bank Of Canada lowered their price objective on Shopify from $145.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. Oppenheimer dropped their price objective on shares of Shopify from $150.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Finally, Wedbush reiterated an “outperform” rating and set a $110.00 target price on shares of Shopify in a research report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Shopify currently has an average rating of “Moderate Buy” and a consensus target price of $115.66.

Shopify Trading Down 0.5%

SHOP stock opened at $105.97 on Friday. The company’s 50 day moving average is $100.28 and its 200 day moving average is $104.91. The stock has a market cap of $137.48 billion, a price-to-earnings ratio of 68.37, a price-to-earnings-growth ratio of 4.82 and a beta of 2.63. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38.

Shopify Profile

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.