Trilogy Capital Inc. Takes Position in Shopify Inc. (NYSE:SHOP)

Trilogy Capital Inc. bought a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,030 shares of the software maker’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Brooklyn Investment Group purchased a new position in shares of Shopify during the 3rd quarter worth approximately $33,000. Rosenberg Matthew Hamilton grew its holdings in shares of Shopify by 41.3% during 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 period. New Wave Wealth Advisors LLC purchased a new position in shares of Shopify during the 4th quarter worth approximately $39,000. Mather Group LLC. grew its holdings in shares of Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after acquiring an additional 184 shares during the period. Finally, Truvestments Capital LLC purchased a new stake in shares of Shopify in the 3rd quarter worth approximately $45,000. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Down 1.1 %

SHOP stock opened at $117.33 on Friday. The company has a market cap of $151.60 billion, a P/E ratio of 109.65, a P/E/G ratio of 2.46 and a beta of 2.47. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $122.81. The company’s 50-day moving average price is $110.88 and its 200 day moving average price is $90.15. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SHOP. Wells Fargo & Company upped their price target on Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Mizuho upped their price target on Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. DZ Bank downgraded Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. KeyCorp upped their price target on Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Barclays upped their price objective on Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.32.

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.