CNB Bank Trims Holdings in Shopify Inc. (NYSE:SHOP)

by · The Markets Daily

CNB Bank decreased its holdings in shares of Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) by 4.0% in the fourth quarter, HoldingsChannel reports. The firm owned 7,102 shares of the software maker’s stock after selling 294 shares during the quarter. CNB Bank’s holdings in Shopify were worth $755,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group lifted its stake in 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 acquiring an additional 200 shares during the period. Brooklyn Investment Group bought a new position in Shopify in the 3rd quarter worth $33,000. Rosenberg Matthew Hamilton lifted its position in shares of 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 purchasing an additional 133 shares during the period. Truvestments Capital LLC bought a new stake in shares of Shopify during the 3rd quarter valued at about $45,000. Finally, GAMMA Investing LLC increased its position in shares of Shopify by 73.5% during the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after buying an additional 253 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on SHOP. DZ Bank cut Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Wells Fargo & Company boosted their target price on shares of Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Mizuho increased their price target on shares of Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Scotiabank boosted their price objective 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 raised their target price on shares of Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four 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 presently has an average rating of “Moderate Buy” and a consensus price target of $100.31.

Check Out Our Latest Analysis on SHOP

Shopify Stock Performance

Shares of SHOP stock opened at $105.27 on Friday. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The company has a market cap of $136.01 billion, a PE ratio of 98.22, a PEG ratio of 2.18 and a beta of 2.46. The business’s fifty day simple moving average is $108.71 and its 200-day simple moving average is $85.17. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $120.72.

Shopify Profile

(Free Report)

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.

See Also

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