Advisory Resource Group Makes New Investment in Shopify Inc. (NYSE:SHOP)

Advisory Resource Group purchased a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,908 shares of the software maker’s stock, valued at approximately $1,054,000.

A number of other institutional investors have also recently bought and sold shares of SHOP. GAMMA Investing LLC increased its position in Shopify by 73.5% during the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock worth $48,000 after buying an additional 253 shares during the last quarter. Dynamic Advisor Solutions LLC grew its position in shares of Shopify by 7.1% in the third quarter. Dynamic Advisor Solutions LLC now owns 8,778 shares of the software maker’s stock valued at $703,000 after purchasing an additional 585 shares during the last quarter. CWM LLC grew its position in shares of Shopify by 14.9% in the third quarter. CWM LLC now owns 14,097 shares of the software maker’s stock valued at $1,130,000 after purchasing an additional 1,832 shares during the last quarter. Wedmont Private Capital acquired a new position in shares of Shopify in the third quarter valued at approximately $269,000. Finally, JGP Wealth Management LLC grew its position in shares of Shopify by 4.6% in the third quarter. JGP Wealth Management LLC now owns 5,006 shares of the software maker’s stock valued at $401,000 after purchasing an additional 219 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SHOP shares. Wedbush raised Shopify from a “neutral” rating to an “outperform” rating and upped their target price for the company from $115.00 to $125.00 in a research report on Monday, January 6th. Truist Financial upped their target price on Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $130.00 target price on shares of Shopify in a research report on Wednesday, January 22nd. Atb Cap Markets downgraded Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, New Street Research assumed coverage on Shopify in a research report on Friday, January 10th. They issued a “neutral” rating and a $115.00 target price on the stock. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $100.32.

Shopify Stock Down 1.1 %

Shares of SHOP opened at $117.33 on Friday. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $122.81. The stock has a market capitalization of $151.60 billion, a price-to-earnings ratio of 109.65, a PEG ratio of 2.49 and a beta of 2.47. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The stock has a fifty day moving average of $110.91 and a 200-day moving average of $90.53.

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.