Gunderson Capital Management Inc. bought a new position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 63,194 shares of the software maker's stock, valued at approximately $6,719,000. Shopify comprises 3.3% of Gunderson Capital Management Inc.'s portfolio, making the stock its 14th largest position.
A number of other hedge funds also recently bought and sold shares of SHOP. Sunbelt Securities Inc. increased its position in Shopify by 0.7% during the third quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker's stock worth $1,162,000 after acquiring an additional 105 shares during the period. Moser Wealth Advisors LLC grew its position in Shopify by 1.4% in 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 during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of Shopify by 7.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker's stock worth $159,000 after purchasing an additional 129 shares during the period. 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. Finally, CVA Family Office LLC lifted its stake in shares of Shopify by 11.8% in the third quarter. CVA Family Office LLC now owns 1,354 shares of the software maker's stock valued at $109,000 after buying an additional 143 shares during the period. 69.27% of the stock is currently owned by institutional investors.
Shopify Trading Down 0.3 %
NYSE SHOP traded down $0.28 during trading hours on Tuesday, hitting $101.48. The company's stock had a trading volume of 5,043,501 shares, compared to its average volume of 5,979,273. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $120.72. The firm has a market capitalization of $131.12 billion, a P/E ratio of 94.84, a PEG ratio of 2.98 and a beta of 2.46. 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 stock has a fifty day moving average of $107.82 and a 200 day moving average of $84.79.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on Shopify from $90.00 to $120.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. New Street Research started coverage on Shopify in a research report on Friday. They set a "neutral" rating and a $115.00 price objective on the stock. Royal Bank of Canada upped their target price on Shopify from $100.00 to $130.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Citigroup lifted their price target on shares of Shopify from $90.00 to $103.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. Finally, Canaccord Genuity Group increased their price objective on shares of Shopify from $80.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. One equities 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $100.31.
Check Out Our Latest Analysis on Shopify
About Shopify
(
Free Report)
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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