Shopify Inc. (NYSE:SHOP) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board lessened its position in Shopify Inc. (NYSE:SHOPFree Report) (TSE:SHOP) by 99.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 16,236 shares of the software maker’s stock after selling 5,017,466 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Shopify were worth $1,264,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Private Wealth Management Group LLC purchased a new stake in Shopify during the fourth quarter worth about $26,000. SJS Investment Consulting Inc. lifted its holdings in Shopify by 59.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after buying an additional 130 shares in the last quarter. Your Advocates Ltd. LLP boosted its position in Shopify by 4,344.4% in the 4th quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock valued at $31,000 after buying an additional 391 shares during the period. Baldwin Brothers LLC MA grew its stake in shares of Shopify by 49.0% in the fourth quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock worth $35,000 after acquiring an additional 147 shares in the last quarter. Finally, Global Trust Asset Management LLC increased its position in shares of Shopify by 350.0% during the fourth quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock worth $35,000 after acquiring an additional 350 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of NYSE:SHOP traded down $0.67 during midday trading on Friday, hitting $56.97. The stock had a trading volume of 8,537,230 shares, compared to its average volume of 14,613,592. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.10. The stock has a 50 day moving average price of $70.27 and a two-hundred day moving average price of $74.12. Shopify Inc. has a 1 year low of $45.50 and a 1 year high of $91.57. The company has a market capitalization of $73.42 billion, a PE ratio of -335.12, a P/E/G ratio of 2.63 and a beta of 2.20.

Wall Street Analysts Forecast Growth

SHOP has been the subject of a number of analyst reports. UBS Group boosted their price objective on Shopify from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Scotiabank decreased their price objective on shares of Shopify from $80.00 to $75.00 and set a “sector perform” rating for the company in a research report on Thursday, May 9th. Piper Sandler upgraded Shopify from an “underweight” rating to a “neutral” rating and set a $63.00 price target on the stock in a research note on Thursday, May 9th. BNP Paribas raised Shopify from an “underperform” rating to an “outperform” rating in a research report on Thursday, May 2nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Shopify in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.06.

Read Our Latest Research Report on SHOP

About Shopify

(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.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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