State of Wyoming Has $404,000 Stock Holdings in Shopify Inc. (NYSE:SHOP)

State of Wyoming trimmed its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 16.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 3,797 shares of the software maker’s stock after selling 757 shares during the quarter. State of Wyoming’s holdings in Shopify were worth $404,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Allianz SE bought a new position in shares of Shopify in the 4th quarter valued at $27,000. PFG Private Wealth Management LLC boosted its stake in Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after buying an additional 256 shares in the last quarter. Mark Sheptoff Financial Planning LLC grew its position in Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after acquiring an additional 100 shares during the last quarter. New Wave Wealth Advisors LLC bought a new position in Shopify in the fourth quarter valued at about $39,000. Finally, Mather Group LLC. raised its stake in Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after acquiring an additional 184 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Benchmark reduced their price target on shares of Shopify from $150.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Morgan Stanley increased their price objective on shares of Shopify from $106.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Royal Bank of Canada decreased their target price on shares of Shopify from $145.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. Phillip Securities downgraded shares of Shopify from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, February 17th. Finally, Canaccord Genuity Group raised their price objective on Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $115.37.

Shopify Price Performance

NYSE SHOP opened at $106.43 on Wednesday. The stock has a market capitalization of $137.81 billion, a P/E ratio of 68.66, a P/E/G ratio of 4.82 and a beta of 2.66. The business has a 50 day simple moving average of $94.87 and a 200 day simple moving average of $104.30. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38.

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.