World Investment Advisors Sells 4,232 Shares of Shopify Inc. $SHOP

World Investment Advisors decreased its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 15.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 23,095 shares of the software maker’s stock after selling 4,232 shares during the period. World Investment Advisors’ holdings in Shopify were worth $2,740,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SHOP. Kingdom Financial Group LLC. bought a new position in shares of Shopify during the fourth quarter worth about $26,000. Curio Wealth LLC bought a new stake in Shopify in the 4th quarter valued at approximately $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Shopify during the 4th quarter worth approximately $29,000. Lodestone Wealth Management LLC acquired a new position in Shopify during the 4th quarter worth approximately $31,000. Finally, Sound Income Strategies LLC grew its stake in shares of Shopify by 82.4% during the 4th quarter. Sound Income Strategies LLC now owns 197 shares of the software maker’s stock worth $31,000 after acquiring an additional 89 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. National Bank Financial lowered their price objective on shares of Shopify from $200.00 to $155.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. BMO Capital Markets decreased their target price on shares of Shopify from $160.00 to $145.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. Piper Sandler reiterated an “overweight” rating and issued a $150.00 price target (down from $165.00) on shares of Shopify in a research note on Tuesday, May 5th. Royal Bank Of Canada reissued an “outperform” rating and set a $170.00 price target on shares of Shopify in a research report on Wednesday, May 6th. Finally, Citigroup restated a “market outperform” rating on shares of Shopify in a research note on Thursday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $156.06.

Shopify Price Performance

SHOP stock traded up $2.23 during midday trading on Tuesday, reaching $122.37. 2,959,554 shares of the company were exchanged, compared to its average volume of 10,852,240. Shopify Inc. has a one year low of $94.00 and a one year high of $182.19. The firm has a market capitalization of $158.79 billion, a price-to-earnings ratio of 121.16, a price-to-earnings-growth ratio of 3.28 and a beta of 2.58. The business has a 50-day moving average price of $111.33 and a two-hundred day moving average price of $126.51.

Shopify Company Profile

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.