ERn Financial LLC Makes New $349,000 Investment in Shopify Inc. (NYSE:SHOP)

ERn Financial LLC bought a new stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,280 shares of the software maker's stock, valued at approximately $349,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SHOP. Axxcess Wealth Management LLC raised its position in shares of Shopify by 15.1% during the 2nd quarter. Axxcess Wealth Management LLC now owns 12,469 shares of the software maker's stock worth $824,000 after buying an additional 1,633 shares in the last quarter. Wealth Alliance increased its stake in shares of Shopify by 26.2% during the second quarter. Wealth Alliance now owns 6,972 shares of the software maker's stock valued at $461,000 after acquiring an additional 1,448 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in Shopify by 6.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 57,783 shares of the software maker's stock worth $3,817,000 after purchasing an additional 3,631 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Shopify by 0.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 31,858 shares of the software maker's stock worth $2,094,000 after purchasing an additional 218 shares during the period. Finally, Blair William & Co. IL boosted its stake in Shopify by 0.3% during the 2nd quarter. Blair William & Co. IL now owns 372,809 shares of the software maker's stock valued at $24,624,000 after purchasing an additional 1,074 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.

Shopify Price Performance

Shopify stock traded down $0.11 during trading hours on Friday, hitting $103.39. 3,606,307 shares of the stock were exchanged, compared to its average volume of 5,600,391. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $120.72. The business's 50-day moving average is $108.71 and its two-hundred day moving average is $85.17. 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 market capitalization of $133.60 billion, a P/E ratio of 96.61, a P/E/G ratio of 2.18 and a beta of 2.46.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SHOP shares. Piper Sandler boosted their price objective on Shopify from $67.00 to $94.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 13th. Robert W. Baird boosted their price target on shares of Shopify from $90.00 to $126.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. Royal Bank of Canada raised their price objective on shares of Shopify from $100.00 to $130.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Scotiabank boosted their target price on shares of Shopify from $75.00 to $80.00 and gave the stock a "sector perform" rating in a report on Thursday, October 24th. Finally, Wells Fargo & Company raised their target price on shares of Shopify from $90.00 to $120.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $100.31.

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.