RMR Wealth Builders Sells 436 Shares of Shopify Inc. (NYSE:SHOP)

RMR Wealth Builders reduced its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,410 shares of the software maker’s stock after selling 436 shares during the quarter. RMR Wealth Builders’ holdings in Shopify were worth $994,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Allianz SE bought a new position in shares of Shopify in the fourth quarter valued at approximately $27,000. PFG Private Wealth Management LLC boosted its position in shares of Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after acquiring an additional 256 shares during the period. Fourth Dimension Wealth LLC bought a new position in shares of Shopify in the fourth quarter valued at approximately $30,000. Mark Sheptoff Financial Planning LLC boosted its position in shares of Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after acquiring an additional 100 shares during the period. Finally, Sierra Ocean LLC bought a new position in shares of Shopify in the fourth quarter valued at approximately $46,000. 69.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SHOP has been the subject of a number of analyst reports. The Goldman Sachs Group cut their price objective on shares of Shopify from $150.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Phillip Securities lowered shares of Shopify from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, February 17th. Barclays dropped their target price on shares of Shopify from $100.00 to $94.00 and set an “equal weight” rating for the company in a research report on Friday, May 9th. Loop Capital dropped their target price on shares of Shopify from $150.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Finally, Atb Cap Markets upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and an average target price of $115.39.

Shopify Trading Down 4.3%

Shares of Shopify stock opened at $109.21 on Friday. The company’s fifty day simple moving average is $98.07 and its two-hundred day simple moving average is $105.14. The company has a market cap of $141.41 billion, a P/E ratio of 70.46, a PEG ratio of 4.82 and a beta of 2.63. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38.

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.