Johnson Investment Counsel Inc. decreased its holdings in shares of Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) by 3.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,729 shares of the software maker’s stock after selling 251 shares during the period. Johnson Investment Counsel Inc.’s holdings in Shopify were worth $510,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Private Wealth Management Group LLC bought a new stake in Shopify during the fourth quarter valued at $26,000. DSM Capital Partners LLC bought a new stake in Shopify during the fourth quarter valued at $28,000. Jones Financial Companies Lllp bought a new stake in Shopify during the fourth quarter valued at $28,000. Cultivar Capital Inc. bought a new stake in Shopify during the second quarter worth about $33,000. Finally, Hazlett Burt & Watson Inc. bought a new stake in Shopify during the second quarter worth about $33,000. Institutional investors own 69.27% of the company’s stock.
Shopify Stock Performance
Shopify stock opened at $72.45 on Friday. 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 company has a market capitalization of $93.36 billion, a P/E ratio of -426.18, a PEG ratio of 2.40 and a beta of 2.35. The stock’s 50 day moving average is $67.38 and its 200 day moving average is $68.36. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on SHOP shares. Benchmark reaffirmed a “hold” rating on shares of Shopify in a research note on Tuesday, August 6th. JPMorgan Chase & Co. lifted their price target on Shopify from $74.00 to $76.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Roth Mkm lifted their price target on Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Cantor Fitzgerald started coverage on Shopify in a research note on Thursday, September 5th. They set a “neutral” rating and a $70.00 price target for the company. Finally, UBS Group lifted their price target on Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.37.
Read Our Latest Research Report on SHOP
Shopify Company 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.
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