M.E. Allison & CO. Inc. bought a new position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,000 shares of the software maker's stock, valued at approximately $425,000.
Several other large investors have also bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group increased its holdings in Shopify by 100.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker's stock worth $26,000 after buying an additional 200 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Shopify in the third quarter worth approximately $33,000. Rosenberg Matthew Hamilton raised its holdings 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 purchasing an additional 133 shares during the last quarter. Truvestments Capital LLC bought a new position in Shopify during the third quarter valued at approximately $45,000. Finally, GAMMA Investing LLC lifted its position in Shopify by 73.5% during the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker's stock valued at $48,000 after purchasing an additional 253 shares during the period. 69.27% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on SHOP shares. Scotiabank boosted their target price on shares of Shopify from $75.00 to $80.00 and gave the company a "sector perform" rating in a research note on Thursday, October 24th. Atb Cap Markets cut Shopify from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, November 12th. Truist Financial increased their target price on Shopify from $65.00 to $110.00 and gave the company a "hold" rating in a report on Wednesday, November 13th. KeyCorp boosted their price target on Shopify from $80.00 to $130.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. Finally, DZ Bank cut shares of Shopify from a "hold" rating to a "sell" rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $100.31.
Check Out Our Latest Analysis on Shopify
Shopify Stock Down 0.2 %
Shopify stock traded down $0.25 during trading hours on Monday, reaching $103.25. The stock had a trading volume of 5,579,542 shares, compared to its average volume of 4,488,373. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $120.72. The company has a market cap of $133.41 billion, a price-to-earnings ratio of 96.50, a PEG ratio of 2.18 and a beta of 2.46. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The business's 50 day moving average price is $109.39 and its 200-day moving average price is $85.84.
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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