Claro Advisors LLC Takes $456,000 Position in Shopify Inc. (NYSE:SHOP)

Claro Advisors LLC purchased a new stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 5,687 shares of the software maker's stock, valued at approximately $456,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Moser Wealth Advisors LLC grew its position in Shopify by 1.4% during the 3rd quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker's stock worth $755,000 after purchasing an additional 128 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in Shopify by 7.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker's stock valued at $159,000 after acquiring an additional 129 shares in the last quarter. Rosenberg Matthew Hamilton raised its position in 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 acquiring an additional 133 shares in the last quarter. CVA Family Office LLC raised its position in Shopify by 11.8% during the third quarter. CVA Family Office LLC now owns 1,354 shares of the software maker's stock valued at $109,000 after acquiring an additional 143 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC raised its position in Shopify by 3.5% during the third quarter. Twin Peaks Wealth Advisors LLC now owns 4,282 shares of the software maker's stock valued at $343,000 after acquiring an additional 145 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Trading Down 1.1 %

Shares of SHOP stock traded down $1.12 on Tuesday, reaching $104.76. The company had a trading volume of 6,679,009 shares, compared to its average volume of 9,337,696. The stock has a market cap of $135.18 billion, a PE ratio of 98.97, a PEG ratio of 3.45 and a beta of 2.36. The company has a 50-day moving average of $82.73 and a 200-day moving average of $71.27. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.10. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $115.62.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SHOP. Redburn Atlantic raised shares of Shopify from a "neutral" rating to a "buy" rating and set a $99.00 price objective on the stock in a research report on Tuesday, September 17th. Royal Bank of Canada increased their price target on Shopify from $100.00 to $130.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. JMP Securities increased their price target on Shopify from $80.00 to $120.00 and gave the company a "market outperform" rating in a report on Wednesday, November 13th. Wells Fargo & Company increased 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. Finally, Oppenheimer increased their price target on Shopify from $90.00 to $130.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $94.95.

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.