First Hawaiian Bank Makes New Investment in Shopify Inc. (NYSE:SHOP)

First Hawaiian Bank acquired a new stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,996 shares of the software maker's stock, valued at approximately $744,000.

Several other institutional investors and hedge funds have also modified their holdings of SHOP. Fulton Bank N.A. purchased a new stake in Shopify in the 4th quarter valued at about $286,000. One Wealth Capital Management LLC purchased a new stake in Shopify in the fourth quarter valued at approximately $1,281,000. Diversified Trust Co acquired a new position in Shopify during the fourth quarter worth approximately $279,000. CWA Asset Management Group LLC raised its stake in Shopify by 3.6% during the fourth quarter. CWA Asset Management Group LLC now owns 4,282 shares of the software maker's stock worth $455,000 after purchasing an additional 148 shares during the period. Finally, Modus Advisors LLC acquired a new position in shares of Shopify in the 4th quarter valued at $64,000. Hedge funds and other institutional investors own 69.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SHOP. Atb Cap Markets lowered Shopify from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, November 12th. Redburn Atlantic raised shares of Shopify from a "neutral" rating to a "buy" rating and set a $99.00 price target on the stock in a research report on Tuesday, September 17th. The Goldman Sachs Group increased their price objective on shares of Shopify from $88.00 to $135.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. New Street Research assumed coverage on Shopify in a report on Friday. They issued a "neutral" rating and a $115.00 price target for the company. Finally, Oppenheimer raised their price objective on Shopify from $90.00 to $130.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Shopify currently has an average rating of "Moderate Buy" and a consensus price target of $100.31.

Shopify Stock Performance

NYSE SHOP traded down $3.73 during trading hours on Friday, reaching $103.91. The company's stock had a trading volume of 8,964,123 shares, compared to its average volume of 5,795,767. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The business has a 50-day simple moving average of $107.35 and a 200 day simple moving average of $84.41. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $120.72. The stock has a market cap of $134.26 billion, a PE ratio of 97.11, a PEG ratio of 2.98 and a beta of 2.46.

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.