Shopify Inc. (NYSE:SHOP) Shares Sold by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd reduced its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 86.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,478 shares of the software maker’s stock after selling 29,812 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Shopify were worth $349,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wealth Management Partners LLC raised its stake in Shopify by 0.9% during the 4th quarter. Wealth Management Partners LLC now owns 13,922 shares of the software maker’s stock worth $1,085,000 after acquiring an additional 126 shares in the last quarter. SJS Investment Consulting Inc. raised its stake in Shopify by 59.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after acquiring an additional 130 shares in the last quarter. Pachira Investments Inc. raised its stake in Shopify by 2.1% during the 4th quarter. Pachira Investments Inc. now owns 7,084 shares of the software maker’s stock worth $552,000 after acquiring an additional 146 shares in the last quarter. Baldwin Brothers LLC MA raised its stake in Shopify by 49.0% during the 4th quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock worth $35,000 after acquiring an additional 147 shares in the last quarter. Finally, Capital Advisors Inc. OK raised its stake in Shopify by 1.7% during the 4th quarter. Capital Advisors Inc. OK now owns 9,283 shares of the software maker’s stock worth $723,000 after acquiring an additional 153 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SHOP has been the topic of a number of recent research reports. BNP Paribas upgraded shares of Shopify from an “underperform” rating to an “outperform” rating in a research note on Thursday, May 2nd. Royal Bank of Canada dropped their price objective on shares of Shopify from $100.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Canaccord Genuity Group dropped their price objective on shares of Shopify from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. TD Securities dropped their price objective on shares of Shopify from $80.00 to $72.00 and set a “hold” rating on the stock in a research note on Thursday, May 9th. Finally, Piper Sandler upgraded shares of Shopify from an “underweight” rating to a “neutral” rating and set a $63.00 price objective on the stock in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and an average price target of $77.06.

Shopify Stock Down 1.2 %

SHOP stock opened at $56.97 on Monday. The company’s 50 day simple moving average is $70.27 and its 200-day simple moving average is $74.29. Shopify Inc. has a 12 month low of $45.50 and a 12 month high of $91.57. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.10.

Shopify 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.