Yarger Wealth Strategies LLC purchased a new stake in Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 2,942 shares of the software maker’s stock, valued at approximately $313,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of SHOP. Oliver Lagore Vanvalin Investment Group raised its holdings in shares of Shopify by 100.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after acquiring an additional 200 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Shopify during the third quarter worth approximately $33,000. Rosenberg Matthew Hamilton raised its stake in Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after purchasing an additional 133 shares during the last quarter. Truvestments Capital LLC purchased a new position in Shopify in the 3rd quarter valued at $45,000. Finally, GAMMA Investing LLC boosted its stake in Shopify by 73.5% during the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock worth $48,000 after purchasing an additional 253 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
SHOP has been the subject of a number of recent research reports. Canaccord Genuity Group increased their target price on shares of Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. KeyCorp increased their price objective on shares of Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Wedbush upgraded Shopify from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $115.00 to $125.00 in a report on Monday, January 6th. Truist Financial upped their price target on Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday, November 13th. Finally, DZ Bank downgraded Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and an average price target of $100.31.
Shopify Price Performance
Shares of SHOP opened at $103.47 on Friday. The company has a market cap of $133.70 billion, a P/E ratio of 96.71, a PEG ratio of 2.18 and a beta of 2.46. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $120.72. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The firm’s 50 day moving average price is $108.71 and its 200 day moving average price is $85.17.
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.
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