Sienna Gestion Sells 5,400 Shares of Shopify Inc. $SHOP

Sienna Gestion lessened its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 9.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,100 shares of the software maker’s stock after selling 5,400 shares during the period. Sienna Gestion’s holdings in Shopify were worth $7,059,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Gravity Companies Inc. bought a new stake in shares of Shopify in the 2nd quarter valued at $27,000. Rothschild Investment LLC raised its stake in Shopify by 47.5% during the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after buying an additional 75 shares during the period. Heartwood Wealth Advisors LLC bought a new position in Shopify during the third quarter worth about $27,000. Estabrook Capital Management bought a new position in Shopify during the second quarter worth about $29,000. Finally, Vestor Capital LLC acquired a new position in Shopify in the second quarter valued at about $34,000. 69.27% of the stock is owned by institutional investors.

Shopify Stock Down 3.4%

NASDAQ SHOP opened at $130.20 on Monday. The firm’s 50 day moving average is $137.30 and its 200-day moving average is $149.14. The company has a market capitalization of $169.50 billion, a PE ratio of 140.00, a price-to-earnings-growth ratio of 4.67 and a beta of 2.83. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $182.19.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SHOP. TD Cowen raised Shopify from a “hold” rating to a “buy” rating and set a $159.00 price target on the stock in a research report on Wednesday, February 11th. Phillip Securities upgraded Shopify from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $175.00 target price on shares of Shopify in a research note on Thursday, February 12th. Jefferies Financial Group set a $125.00 price target on shares of Shopify and gave the company a “hold” rating in a research note on Monday, February 16th. Finally, TD Securities raised shares of Shopify from a “hold” rating to a “buy” rating and set a $159.00 price objective for the company in a research report on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $162.64.

Shopify Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.