Solidarity Wealth LLC acquired a new position in Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 7,212 shares of the software maker’s stock, valued at approximately $767,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Oliver Lagore Vanvalin Investment Group grew its position in shares of Shopify by 100.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after purchasing an additional 200 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Shopify during the 3rd quarter valued at approximately $33,000. Rosenberg Matthew Hamilton raised its position in shares of 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 buying an additional 133 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of Shopify during the third quarter valued at approximately $45,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Shopify by 73.5% in 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 in the last quarter. 69.27% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have issued reports on the stock. Citigroup lifted their price target on shares of Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a report on Monday, September 30th. Barclays boosted their target price on Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Wells Fargo & Company raised their price target on Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. New Street Research began coverage on Shopify in a report on Friday, January 10th. They set a “neutral” rating and a $115.00 price objective on the stock. Finally, Piper Sandler raised their target price on shares of Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. 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 data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and an average price target of $100.31.
Shopify Trading Down 0.2 %
NYSE:SHOP opened at $103.25 on Tuesday. The company has a market capitalization of $133.41 billion, a P/E ratio of 96.50, a PEG ratio of 2.17 and a beta of 2.46. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $120.72. The firm has a fifty day simple moving average of $109.39 and a 200-day simple moving average of $85.84.
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.
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