Horst & Graben Wealth Management LLC Buys 2,806 Shares of Shopify Inc. (NYSE:SHOP)

Horst & Graben Wealth Management LLC lifted its holdings in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 68.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,917 shares of the software maker's stock after purchasing an additional 2,806 shares during the quarter. Horst & Graben Wealth Management LLC's holdings in Shopify were worth $735,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. New Wave Wealth Advisors LLC bought a new stake in Shopify during the fourth quarter worth approximately $39,000. Brooklyn Investment Group bought a new stake in shares of Shopify during the 3rd quarter worth $33,000. Rosenberg Matthew Hamilton grew its stake in Shopify by 41.3% in the 3rd 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. Synergy Asset Management LLC bought a new position in Shopify in the 4th quarter worth $55,000. Finally, Truvestments Capital LLC acquired a new position in Shopify during the 3rd quarter worth $45,000. Institutional investors own 69.27% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SHOP shares. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $130.00 price target on shares of Shopify in a research report on Wednesday, January 22nd. Wedbush raised Shopify from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $115.00 to $125.00 in a research report on Monday, January 6th. The Goldman Sachs Group raised their price objective on shares of Shopify from $88.00 to $135.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. KeyCorp upped their target price 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 began coverage on shares of Shopify in a research report on Friday, January 10th. They issued a "neutral" rating and a $115.00 price target on the stock. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $100.32.

Shopify Trading Down 2.1 %

SHOP stock traded down $2.48 during midday trading on Friday, reaching $116.70. The company's stock had a trading volume of 7,750,504 shares, compared to its average volume of 5,562,812. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $122.00. The business's 50-day simple moving average is $110.36 and its 200-day simple moving average is $88.80. The stock has a market cap of $150.79 billion, a PE ratio of 109.07, a price-to-earnings-growth ratio of 2.45 and a beta of 2.46.

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.