Shopify Inc. (NYSE:SHOP) Shares Purchased by Alta Wealth Advisors LLC

Alta Wealth Advisors LLC lifted its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,734 shares of the software maker’s stock after purchasing an additional 213 shares during the quarter. Shopify comprises about 0.9% of Alta Wealth Advisors LLC’s portfolio, making the stock its 24th largest holding. Alta Wealth Advisors LLC’s holdings in Shopify were worth $2,098,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of SHOP. Brooklyn Investment Group acquired a new stake in shares of Shopify during the third quarter worth $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 worth $36,000 after acquiring an additional 133 shares during the last quarter. Truvestments Capital LLC acquired a new stake in Shopify during the 3rd quarter worth about $45,000. GAMMA Investing LLC grew its stake in Shopify by 73.5% during the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after purchasing an additional 253 shares during the last quarter. Finally, HM Payson & Co. increased its holdings in shares of Shopify by 37.2% in the third quarter. HM Payson & Co. now owns 686 shares of the software maker’s stock valued at $55,000 after purchasing an additional 186 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SHOP shares. Moffett Nathanson upped their target price on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Oppenheimer raised their target price on shares of Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Wedbush upgraded shares of Shopify from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $115.00 to $125.00 in a research report on Monday, January 6th. Barclays lifted their price objective on Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Finally, Truist Financial upped their target price on Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $100.32.

Shopify Stock Up 2.3 %

NYSE SHOP opened at $119.23 on Friday. The business’s fifty day simple moving average is $110.16 and its 200-day simple moving average is $88.30. 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 has a market cap of $154.06 billion, a PE ratio of 111.43, a P/E/G ratio of 2.45 and a beta of 2.46. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $120.72.

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.