BSW Wealth Partners Takes Position in Shopify Inc. (NYSE:SHOP)

BSW Wealth Partners acquired a new stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,531 shares of the software maker's stock, valued at approximately $269,000.

A number of other institutional investors have also recently made changes to their positions in the business. Brooklyn Investment Group acquired a new position in shares of Shopify during the third quarter worth about $33,000. Rosenberg Matthew Hamilton lifted its stake in Shopify by 41.3% in the third 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 position in Shopify during the 3rd quarter worth approximately $45,000. GAMMA Investing LLC increased its position in shares of Shopify by 73.5% in 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. raised its holdings in shares of Shopify by 37.2% in the 3rd quarter. HM Payson & Co. now owns 686 shares of the software maker's stock valued at $55,000 after purchasing an additional 186 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.

Shopify Price Performance

NYSE SHOP traded up $2.64 during mid-day trading on Thursday, hitting $119.23. The stock had a trading volume of 6,117,244 shares, compared to its average volume of 6,173,654. The company has a 50 day simple moving average of $109.91 and a 200 day simple moving average of $88.09. 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 company has a market cap of $154.06 billion, a price-to-earnings ratio of 111.43, a P/E/G ratio of 2.24 and a beta of 2.46. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $120.72.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Atb Cap Markets downgraded shares of Shopify from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, November 12th. Wells Fargo & Company increased their price objective on Shopify from $90.00 to $120.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Truist Financial boosted 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. KeyCorp increased their price target on shares of Shopify from $80.00 to $130.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. Finally, New Street Research assumed coverage on shares of Shopify in a research report on Friday, January 10th. They set a "neutral" rating and a $115.00 price objective for the company. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Shopify has an average rating of "Moderate Buy" and an average 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.