DGS Capital Management LLC Boosts Stake in Shopify Inc. (NYSE:SHOP)

DGS Capital Management LLC increased its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 9.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,853 shares of the software maker’s stock after acquiring an additional 317 shares during the period. DGS Capital Management LLC’s holdings in Shopify were worth $410,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group raised its holdings in shares of Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after buying an additional 200 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Shopify in the third quarter worth approximately $33,000. Rosenberg Matthew Hamilton grew its position in Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after acquiring an additional 133 shares during the last quarter. Truvestments Capital LLC purchased a new position in shares of Shopify during the third quarter worth approximately $45,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Shopify by 73.5% in the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock worth $48,000 after acquiring an additional 253 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

Shopify stock opened at $107.74 on Friday. The stock’s 50 day moving average is $109.37 and its 200 day moving average is $86.92. The company has a market capitalization of $139.22 billion, a P/E ratio of 100.70, a PEG ratio of 2.24 and a beta of 2.46. Shopify Inc. has a twelve month low of $48.56 and a twelve 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.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Scotiabank lifted their target price on shares of Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 24th. New Street Research started coverage on Shopify in a report on Friday, January 10th. They issued a “neutral” rating and a $115.00 price objective on the stock. Piper Sandler increased their target price on Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Canaccord Genuity Group lifted their price target on Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Oppenheimer increased their price objective on Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. One 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 company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $100.31.

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.