Royal Fund Management LLC Sells 10,073 Shares of Shopify Inc. $SHOP

Royal Fund Management LLC reduced its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 85.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,769 shares of the software maker’s stock after selling 10,073 shares during the period. Royal Fund Management LLC’s holdings in Shopify were worth $285,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SHOP. Twin Peaks Wealth Advisors LLC raised its stake in Shopify by 1.7% during the third quarter. Twin Peaks Wealth Advisors LLC now owns 3,448 shares of the software maker’s stock worth $512,000 after acquiring an additional 59 shares in the last quarter. Accurate Wealth Management LLC lifted its holdings in shares of Shopify by 2.0% in the third quarter. Accurate Wealth Management LLC now owns 3,438 shares of the software maker’s stock worth $526,000 after acquiring an additional 67 shares during the last quarter. Moloney Securities Asset Management LLC boosted its stake in shares of Shopify by 1.8% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 3,951 shares of the software maker’s stock valued at $587,000 after purchasing an additional 70 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Shopify by 0.9% during the 3rd quarter. Sivia Capital Partners LLC now owns 8,265 shares of the software maker’s stock valued at $1,228,000 after purchasing an additional 75 shares during the last quarter. Finally, Seros Financial LLC grew its holdings in shares of Shopify by 2.7% during the 3rd quarter. Seros Financial LLC now owns 2,856 shares of the software maker’s stock valued at $424,000 after purchasing an additional 75 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. ATB Cormark Capital Markets raised shares of Shopify from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, February 10th. Arete Research set a $175.00 target price on shares of Shopify in a research note on Monday, February 2nd. Moffett Nathanson upgraded shares of Shopify from a “neutral” rating to a “buy” rating and set a $150.00 price target for the company in a report on Monday, February 9th. TD Cowen upgraded Shopify from a “hold” rating to a “buy” rating and set a $159.00 price target for the company in a research note on Wednesday, February 11th. Finally, Stifel Nicolaus set a $115.00 price objective on Shopify and gave the company a “hold” rating in a report on Wednesday, February 11th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.38.

Shopify Stock Performance

SHOP stock opened at $118.62 on Wednesday. The company has a market capitalization of $154.69 billion, a P/E ratio of 127.55, a PEG ratio of 3.96 and a beta of 2.83. The company has a fifty day moving average price of $123.70 and a 200-day moving average price of $146.72. Shopify Inc. has a 52-week low of $69.84 and a 52-week high of $182.19.

About Shopify

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.