ORG Partners LLC Trims Stake in Shopify Inc. (NYSE:SHOP)

ORG Partners LLC reduced its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 95.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 553 shares of the software maker’s stock after selling 12,191 shares during the quarter. ORG Partners LLC’s holdings in Shopify were worth $54,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SHOP. LRI Investments LLC lifted its position in Shopify by 9.8% during the fourth quarter. LRI Investments LLC now owns 889 shares of the software maker’s stock valued at $94,000 after buying an additional 79 shares in the last quarter. Tidemark LLC lifted its position in Shopify by 3.6% during the fourth quarter. Tidemark LLC now owns 2,592 shares of the software maker’s stock valued at $276,000 after buying an additional 90 shares in the last quarter. Mark Sheptoff Financial Planning LLC lifted its position in Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. Seven Mile Advisory lifted its position in Shopify by 2.3% during the fourth quarter. Seven Mile Advisory now owns 5,068 shares of the software maker’s stock valued at $539,000 after buying an additional 114 shares in the last quarter. Finally, Accurate Wealth Management LLC lifted its position in Shopify by 4.0% during the first quarter. Accurate Wealth Management LLC now owns 3,408 shares of the software maker’s stock valued at $325,000 after buying an additional 131 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Trading Up 0.4%

Shares of Shopify stock opened at $106.40 on Monday. The firm has a fifty day simple moving average of $100.74 and a 200-day simple moving average of $104.75. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The stock has a market capitalization of $138.04 billion, a price-to-earnings ratio of 68.65, a PEG ratio of 4.82 and a beta of 2.63.

Analyst Ratings Changes

SHOP has been the topic of a number of recent research reports. BNP Paribas Exane cut shares of Shopify from an “outperform” rating to a “neutral” rating and set a $100.00 price target on the stock. in a research report on Monday, May 5th. The Goldman Sachs Group reduced their price target on shares of Shopify from $150.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. National Bankshares reduced their target price on shares of Shopify from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Morgan Stanley boosted their target price on shares of Shopify from $106.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Finally, BMO Capital Markets began coverage on shares of Shopify in a research report on Tuesday, May 6th. They set an “outperform” rating and a $120.00 target price on the stock. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $115.66.

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.