M3 Advisory Group LLC Makes New $258,000 Investment in Shopify Inc. (NYSE:SHOP)

M3 Advisory Group LLC purchased a new position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,430 shares of the software maker's stock, valued at approximately $258,000.

A number of other large investors have also bought and sold shares of the business. Oliver Lagore Vanvalin Investment Group increased its stake in Shopify by 100.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker's stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Shopify during the 3rd quarter worth $33,000. Rosenberg Matthew Hamilton lifted its holdings in Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker's stock worth $36,000 after acquiring an additional 133 shares in the last quarter. Truvestments Capital LLC bought a new stake in shares of Shopify in the third quarter worth about $45,000. Finally, GAMMA Investing LLC raised its position in shares of Shopify by 73.5% during the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker's stock worth $48,000 after purchasing an additional 253 shares during the period. 69.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SHOP. Wedbush raised Shopify from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $115.00 to $125.00 in a research note on Monday, January 6th. Cantor Fitzgerald reissued a "neutral" rating and set a $70.00 price objective on shares of Shopify in a research report on Monday, October 7th. Moffett Nathanson boosted their price objective on shares of Shopify from $86.00 to $99.00 and gave the company a "neutral" rating in a research report on Tuesday, November 26th. Mizuho upped their target price on shares of Shopify from $68.00 to $105.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 13th. Finally, Barclays lifted their price target on Shopify from $70.00 to $93.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Shopify has a consensus rating of "Moderate Buy" and an average price target of $100.31.

Shopify Stock Performance

Shares of SHOP traded up $1.64 during mid-day trading on Friday, hitting $107.74. 5,946,408 shares of the company traded hands, compared to its average volume of 4,321,867. The stock has a 50-day moving average price of $109.37 and a two-hundred day moving average price of $87.07. The stock has a market cap of $139.22 billion, a price-to-earnings ratio of 100.70, a P/E/G ratio of 2.24 and a beta of 2.46. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $120.72.

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.