V2 Financial group LLC Sells 314 Shares of Shopify Inc. (NYSE:SHOP)

V2 Financial group LLC cut its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,252 shares of the software maker’s stock after selling 314 shares during the quarter. Shopify makes up 1.4% of V2 Financial group LLC’s holdings, making the stock its 14th biggest holding. V2 Financial group LLC’s holdings in Shopify were worth $2,104,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Oliver Lagore Vanvalin Investment Group lifted its stake in shares of Shopify by 100.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after acquiring an additional 200 shares during the last quarter. Cultivar Capital Inc. bought a new stake in shares of Shopify during the second quarter worth about $33,000. Hazlett Burt & Watson Inc. acquired a new position in shares of Shopify in the second quarter valued at approximately $33,000. Rosenberg Matthew Hamilton raised its holdings in Shopify by 41.3% in the 3rd 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 last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Shopify in the 2nd quarter valued at approximately $39,000. Institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

Shopify stock opened at $89.99 on Tuesday. The stock has a market cap of $116.12 billion, a price-to-earnings ratio of 91.83, a PEG ratio of 2.91 and a beta of 2.36. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10. The business has a 50-day simple moving average of $78.73 and a 200 day simple moving average of $69.92. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $92.16.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SHOP shares. KeyCorp assumed coverage on shares of Shopify in a research report on Thursday, July 25th. They issued an “overweight” rating and a $80.00 price target for the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $70.00 target price on shares of Shopify in a research report on Monday, October 7th. Scotiabank upped their price target on Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, October 24th. Wolfe Research started coverage on Shopify in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $80.00 price target for the company. Finally, Wedbush reaffirmed a “neutral” rating and issued a $72.00 price objective (up from $68.00) on shares of Shopify in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and an average target price of $81.03.

Shopify 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.