Shopify Inc. (NYSE:SHOP) Holdings Lifted by EP Wealth Advisors LLC

EP Wealth Advisors LLC grew its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 26.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,496 shares of the software maker’s stock after purchasing an additional 2,602 shares during the period. EP Wealth Advisors LLC’s holdings in Shopify were worth $1,001,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group grew its position in Shopify by 100.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. Brooklyn Investment Group bought a new position in Shopify in the 3rd quarter worth about $33,000. Rosenberg Matthew Hamilton grew its position in Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares during the last quarter. Cultivar Capital Inc. bought a new position in Shopify in the 2nd quarter worth about $33,000. Finally, Hazlett Burt & Watson Inc. bought a new position in Shopify in the 2nd quarter worth about $33,000. Institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SHOP. Wedbush reiterated a “neutral” rating and issued a $115.00 price objective (up from $72.00) on shares of Shopify in a report on Tuesday, November 12th. Citigroup increased their price objective on shares of Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a report on Monday, September 30th. Barclays increased their price objective on shares of Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. Piper Sandler increased their price objective on shares of Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Finally, Robert W. Baird increased their price objective on shares of Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.08.

Shopify Stock Down 1.6 %

SHOP stock opened at $113.50 on Wednesday. Shopify Inc. has a 12-month low of $48.56 and a 12-month 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 company has a market cap of $146.65 billion, a price-to-earnings ratio of 106.03, a PEG ratio of 3.08 and a beta of 2.46. The company has a 50 day moving average of $93.29 and a two-hundred day moving average of $76.44.

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.