Latitude Advisors LLC Sells 117 Shares of Shopify Inc. (NYSE:SHOP)

Latitude Advisors LLC decreased its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.1% during the fourth quarter, Holdings Channel reports. The firm owned 3,611 shares of the software maker’s stock after selling 117 shares during the quarter. Latitude Advisors LLC’s holdings in Shopify were worth $384,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SHOP. Hartline Investment Corp grew its stake in shares of Shopify by 200.7% during the 4th quarter. Hartline Investment Corp now owns 61,444 shares of the software maker’s stock valued at $6,533,000 after purchasing an additional 41,008 shares during the period. Stonebridge Financial Group LLC bought a new stake in Shopify during the fourth quarter valued at approximately $89,000. Summit Trail Advisors LLC purchased a new stake in Shopify during the fourth quarter valued at approximately $335,000. First National Corp MA ADV bought a new position in Shopify in the fourth quarter worth approximately $237,000. Finally, Soltis Investment Advisors LLC raised its position in Shopify by 115.5% in the fourth quarter. Soltis Investment Advisors LLC now owns 6,062 shares of the software maker’s stock worth $645,000 after acquiring an additional 3,249 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on SHOP. The Goldman Sachs Group upped their price objective on Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Loop Capital raised Shopify from a “hold” rating to a “buy” rating and raised their price objective for the stock from $110.00 to $140.00 in a research note on Friday, December 6th. Atb Cap Markets downgraded Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Scotiabank raised their target price on shares of Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 24th. Finally, Moffett Nathanson upped their price target on shares of Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $101.74.

Shopify Price Performance

SHOP opened at $119.88 on Tuesday. The business has a fifty day moving average of $110.91 and a 200 day moving average of $90.95. The stock has a market cap of $154.89 billion, a P/E ratio of 112.04, a PEG ratio of 2.49 and a beta of 2.47. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $123.41.

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.