Nadler Financial Group Inc. Sells 324 Shares of Shopify Inc. (NYSE:SHOP)

Nadler Financial Group Inc. reduced its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,938 shares of the software maker’s stock after selling 324 shares during the period. Nadler Financial Group Inc.’s holdings in Shopify were worth $662,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Shopify during the fourth quarter worth approximately $1,542,262,000. Arrowstreet Capital Limited Partnership increased its stake in Shopify by 79.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock worth $1,752,834,000 after acquiring an additional 7,316,862 shares during the period. Alliancebernstein L.P. raised its holdings in Shopify by 631.3% in the 4th quarter. Alliancebernstein L.P. now owns 4,459,580 shares of the software maker’s stock valued at $474,187,000 after acquiring an additional 3,849,796 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Shopify by 623.8% during the 4th quarter. Marshall Wace LLP now owns 1,870,891 shares of the software maker’s stock valued at $198,932,000 after acquiring an additional 2,228,091 shares during the period. Finally, Durable Capital Partners LP grew its holdings in shares of Shopify by 86.9% during the 4th quarter. Durable Capital Partners LP now owns 3,950,348 shares of the software maker’s stock worth $420,041,000 after purchasing an additional 1,836,294 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Trading Down 0.7%

Shares of SHOP opened at $113.07 on Friday. The stock’s 50-day moving average price is $103.08 and its two-hundred day moving average price is $104.80. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The company has a market capitalization of $146.69 billion, a PE ratio of 72.95, a PEG ratio of 4.82 and a beta of 2.63.

Analysts Set New Price Targets

A number of research analysts recently commented on SHOP shares. Jefferies Financial Group decreased their price target on Shopify from $130.00 to $110.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. JPMorgan Chase & Co. dropped their target price on shares of Shopify from $124.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, May 9th. National Bankshares cut their price target on shares of Shopify from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Friday, April 25th. UBS Group reduced their price target on shares of Shopify from $125.00 to $110.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $91.00 price objective on shares of Shopify in a research report on Wednesday, June 11th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.66.

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.