Baader Bank Aktiengesellschaft Sells 3,808 Shares of Shopify Inc. (NYSE:SHOP)

Baader Bank Aktiengesellschaft reduced its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 58.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,658 shares of the software maker’s stock after selling 3,808 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Shopify were worth $283,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Swiss National Bank grew its position in Shopify by 0.9% in the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock worth $293,507,000 after acquiring an additional 33,300 shares in 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 raised its stake in shares of 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 worth $27,409,000 after acquiring an additional 77,500 shares in 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. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on SHOP shares. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Wells Fargo & Company raised their price objective on Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. New Street Research began coverage on Shopify in a research note on Friday, January 10th. They issued a “neutral” rating and a $115.00 target price for the company. Oppenheimer increased their target price on Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and boosted their price objective for the company from $110.00 to $140.00 in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and an average price target of $100.32.

Shopify Price Performance

SHOP opened at $119.23 on Friday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $120.72. The stock has a 50-day moving average price of $109.91 and a 200-day moving average price of $88.09. The firm has a market cap of $154.06 billion, a PE ratio of 111.43, a P/E/G ratio of 2.45 and a beta of 2.46. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10.

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.