Shopify Inc. (SHOP) Holdings Cut by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. lowered its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 14.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,077 shares of the software maker’s stock after selling 9,849 shares during the period. Raymond James Financial Services Advisors Inc. owned approximately 0.06% of Shopify worth $6,532,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mn Services Vermogensbeheer B.V. bought a new position in shares of Shopify during the 2nd quarter valued at about $1,120,000. HighTower Advisors LLC bought a new position in shares of Shopify during the 2nd quarter valued at about $321,000. Wedbush Securities Inc. bought a new position in shares of Shopify during the 2nd quarter valued at about $212,000. Oppenheimer & Co. Inc. lifted its holdings in shares of Shopify by 26.8% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 39,959 shares of the software maker’s stock valued at $3,472,000 after purchasing an additional 8,437 shares in the last quarter. Finally, Barton Investment Management lifted its holdings in shares of Shopify by 13.0% during the 2nd quarter. Barton Investment Management now owns 259,650 shares of the software maker’s stock valued at $22,564,000 after purchasing an additional 29,830 shares in the last quarter. Hedge funds and other institutional investors own 54.48% of the company’s stock.

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Several equities analysts have recently weighed in on SHOP shares. Piper Jaffray Companies lifted their price objective on Shopify from $110.00 to $120.00 in a report on Tuesday, October 31st. Roth Capital set a $117.00 price objective on Shopify and gave the company a “buy” rating in a report on Wednesday, August 2nd. Canaccord Genuity reiterated a “buy” rating and set a $115.00 price objective (up previously from $90.00) on shares of Shopify in a report on Wednesday, August 2nd. Zacks Investment Research upgraded Shopify from a “hold” rating to a “buy” rating and set a $101.00 target price on the stock in a research note on Friday, July 28th. Finally, BidaskClub cut Shopify from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $100.45.

Shopify Inc. (NYSE SHOP) opened at $108.56 on Tuesday. The company has a current ratio of 10.64, a quick ratio of 10.64 and a debt-to-equity ratio of 0.02. Shopify Inc. has a 1-year low of $38.69 and a 1-year high of $123.94.

Shopify Company Profile

Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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