Ridgewood Investments LLC Sells 300 Shares of Shopify Inc. (NYSE:SHOP)

Ridgewood Investments LLC lowered its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 8.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,208 shares of the software maker’s stock after selling 300 shares during the quarter. Ridgewood Investments LLC’s holdings in Shopify were worth $341,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SHOP. Sunbelt Securities Inc. increased its stake in Shopify by 0.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock worth $1,162,000 after buying an additional 105 shares during the period. Moser Wealth Advisors LLC increased its stake in Shopify by 1.4% in the 3rd quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock worth $755,000 after buying an additional 128 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in Shopify by 7.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock worth $159,000 after buying an additional 129 shares during the period. Rosenberg Matthew Hamilton increased its stake in Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after buying an additional 133 shares during the period. Finally, CVA Family Office LLC increased its stake in Shopify by 11.8% in the 3rd quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock worth $109,000 after buying an additional 143 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 5.2 %

Shares of SHOP stock traded down $5.61 on Friday, hitting $102.03. 4,519,864 shares of the stock traded hands, compared to its average volume of 5,022,641. The firm’s 50-day moving average price is $106.86 and its two-hundred day moving average price is $83.99. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The stock has a market capitalization of $131.83 billion, a PE ratio of 95.36, a PEG ratio of 2.98 and a beta of 2.46. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $120.72.

Analysts Set New Price Targets

Several research analysts have issued reports on SHOP shares. Scotiabank increased their target price on shares of Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, October 24th. Robert W. Baird increased their target price on shares of Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. The Goldman Sachs Group increased their target price on shares of Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Canaccord Genuity Group increased their target price on shares of Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Redburn Atlantic upgraded shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 target price on the stock in a report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $100.31.

Shopify Company 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.