PSI Advisors LLC Has $411,000 Stock Position in Shopify Inc. (NYSE:SHOP)

PSI Advisors LLC cut its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 14.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,869 shares of the software maker’s stock after selling 675 shares during the period. PSI Advisors LLC’s holdings in Shopify were worth $411,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Oliver Lagore Vanvalin Investment Group grew its position in Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after acquiring an additional 200 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Shopify during the third quarter worth about $33,000. Rosenberg Matthew Hamilton increased its stake in shares of Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after buying an additional 133 shares during the period. Truvestments Capital LLC bought a new position in Shopify in the 3rd quarter valued at approximately $45,000. Finally, GAMMA Investing LLC raised its holdings in Shopify by 73.5% in the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after buying an additional 253 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Performance

Shares of Shopify stock opened at $101.67 on Tuesday. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $120.72. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The business has a 50 day moving average price of $107.82 and a 200-day moving average price of $84.79. The company has a market cap of $131.37 billion, a PE ratio of 95.02, a price-to-earnings-growth ratio of 2.98 and a beta of 2.46.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SHOP shares. Atb Cap Markets cut shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group increased their price objective on Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Oppenheimer lifted their target price on Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Moffett Nathanson increased their price target on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, Loop Capital raised Shopify from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $110.00 to $140.00 in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.31.

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.