Shopify Inc. (NYSE:SHOP) Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC lowered its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 18.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 17,318 shares of the software maker’s stock after selling 3,972 shares during the quarter. Penserra Capital Management LLC’s holdings in Shopify were worth $1,387,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group increased its position in shares of Shopify by 100.0% during 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 in the last quarter. Rosenberg Matthew Hamilton grew its stake in Shopify by 41.3% during 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 last quarter. Cultivar Capital Inc. acquired a new position in Shopify during the second quarter worth approximately $33,000. Hazlett Burt & Watson Inc. purchased a new stake in Shopify in the second quarter valued at approximately $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Shopify in the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Up 1.0 %

NYSE SHOP opened at $112.08 on Wednesday. The company has a market cap of $144.63 billion, a P/E ratio of 104.75, a P/E/G ratio of 2.81 and a beta of 2.36. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $115.62. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The company has a 50-day moving average of $87.00 and a 200-day moving average of $72.90.

Wall Street Analyst Weigh In

SHOP has been the topic of a number of recent research reports. Oppenheimer lifted their target price on shares of Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Citigroup lifted their price objective on shares of Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Redburn Atlantic raised Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price target on the stock in a report on Tuesday, September 17th. Canaccord Genuity Group upped their price objective on Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Argus upgraded Shopify to a “strong-buy” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.84.

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.