Lantz Financial LLC Trims Position in Shopify Inc. (NYSE:SHOP)

Lantz Financial LLC trimmed its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,490 shares of the software maker’s stock after selling 162 shares during the period. Lantz Financial LLC’s holdings in Shopify were worth $265,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Swiss National Bank increased its position in shares of Shopify by 0.9% during the 3rd quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock valued at $293,507,000 after purchasing an additional 33,300 shares during the last quarter. Watts Gwilliam & Co. LLC grew its position in Shopify by 53.0% during the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after acquiring an additional 4,641 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in Shopify by 29.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock valued at $27,409,000 after acquiring an additional 77,500 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of Shopify by 26.4% during the third quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock worth $2,693,000 after acquiring an additional 7,027 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV lifted its holdings in shares of Shopify by 4.6% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker’s stock worth $381,000 after acquiring an additional 209 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Trading Up 1.5 %

NYSE:SHOP opened at $107.74 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 stock’s 50 day simple moving average is $109.37 and its 200-day simple moving average is $86.92. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $120.72. The firm has a market cap of $139.22 billion, a P/E ratio of 100.70, a PEG ratio of 2.24 and a beta of 2.46.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Oppenheimer lifted their price objective on Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Scotiabank increased their price objective on Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, October 24th. New Street Research began coverage on shares of Shopify in a research note on Friday, January 10th. They issued a “neutral” rating and a $115.00 target price on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $70.00 price target on shares of Shopify in a research report on Monday, October 7th. Finally, Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and raised their price target for the stock from $110.00 to $140.00 in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.31.

About Shopify

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.