Shopify Inc. (NYSE:SHOP) Shares Bought by StoneCrest Wealth Management Inc.

StoneCrest Wealth Management Inc. increased its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 7.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,825 shares of the software maker’s stock after acquiring an additional 774 shares during the quarter. StoneCrest Wealth Management Inc.’s holdings in Shopify were worth $1,151,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Axxcess Wealth Management LLC boosted its holdings in shares of Shopify by 15.1% in the second quarter. Axxcess Wealth Management LLC now owns 12,469 shares of the software maker’s stock valued at $824,000 after acquiring an additional 1,633 shares in the last quarter. Wealth Alliance boosted its stake in Shopify by 26.2% during the 2nd quarter. Wealth Alliance now owns 6,972 shares of the software maker’s stock valued at $461,000 after purchasing an additional 1,448 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Shopify by 6.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 57,783 shares of the software maker’s stock valued at $3,817,000 after purchasing an additional 3,631 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in shares of Shopify by 0.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 31,858 shares of the software maker’s stock worth $2,094,000 after buying an additional 218 shares in the last quarter. Finally, Blair William & Co. IL raised its stake in shares of Shopify by 0.3% in the 2nd quarter. Blair William & Co. IL now owns 372,809 shares of the software maker’s stock worth $24,624,000 after buying an additional 1,074 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SHOP. Royal Bank of Canada lifted their target price on Shopify from $100.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Canaccord Genuity Group lifted their price objective on shares of Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group increased their target price on shares of Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Piper Sandler lifted their price target on shares of Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Finally, DZ Bank cut Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. One 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 issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.31.

Shopify Stock Down 0.7 %

SHOP opened at $103.47 on Friday. The company has a market capitalization of $133.70 billion, a PE ratio of 96.71, a price-to-earnings-growth ratio of 2.18 and a beta of 2.46. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $120.72. The business has a 50-day moving average of $108.71 and a 200-day moving average of $85.17.

Shopify Company 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.