Captrust Financial Advisors Sells 1,211 Shares of Shopify Inc. (NYSE:SHOP)

Captrust Financial Advisors lessened its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,092 shares of the software maker’s stock after selling 1,211 shares during the period. Captrust Financial Advisors’ holdings in Shopify were worth $2,331,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SHOP. Oliver Lagore Vanvalin Investment Group grew its stake in shares of Shopify by 100.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Shopify during the 3rd quarter valued at about $33,000. Rosenberg Matthew Hamilton increased its position in shares of Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after buying an additional 133 shares during the period. Cultivar Capital Inc. bought a new position in Shopify in the second quarter worth about $33,000. Finally, Hazlett Burt & Watson Inc. purchased a new stake in Shopify in the second quarter worth about $33,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SHOP shares. Royal Bank of Canada increased their target price on Shopify from $100.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Redburn Atlantic raised Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price objective for the company in a research report on Tuesday, September 17th. UBS Group upped their target price on shares of Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Scotiabank lifted their price target on shares of Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Shopify from $74.00 to $76.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.84.

Shopify Trading Up 0.6 %

Shares of Shopify stock opened at $114.08 on Friday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $116.35. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The business has a 50-day moving average price of $91.80 and a 200-day moving average price of $75.37. The firm has a market cap of $147.40 billion, a price-to-earnings ratio of 106.62, a PEG ratio of 2.94 and a beta of 2.46.

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.