Mount Yale Investment Advisors LLC Invests $287,000 in Shopify Inc. (NYSE:SHOP)

Mount Yale Investment Advisors LLC acquired a new position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,703 shares of the software maker's stock, valued at approximately $287,000.

A number of other institutional investors also recently modified their holdings of SHOP. Truist Financial Corp increased its position in Shopify by 12.5% in the 2nd quarter. Truist Financial Corp now owns 550,550 shares of the software maker's stock valued at $36,364,000 after acquiring an additional 61,014 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Shopify during the second quarter valued at approximately $9,664,000. Lazari Capital Management Inc. increased its holdings in shares of Shopify by 2.8% in the second quarter. Lazari Capital Management Inc. now owns 6,447 shares of the software maker's stock valued at $426,000 after purchasing an additional 177 shares in the last quarter. Anchor Investment Management LLC raised its position in Shopify by 31.5% in the 2nd quarter. Anchor Investment Management LLC now owns 865 shares of the software maker's stock worth $57,000 after purchasing an additional 207 shares during the last quarter. Finally, Doliver Advisors LP lifted its holdings in Shopify by 3.7% during the 3rd quarter. Doliver Advisors LP now owns 5,913 shares of the software maker's stock worth $474,000 after buying an additional 210 shares in the last quarter. Institutional investors own 69.27% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on SHOP. Mizuho lifted their target price on Shopify from $68.00 to $105.00 and gave the company a "neutral" rating in a research note on Wednesday, November 13th. New Street Research began coverage on Shopify in a research report on Friday, January 10th. They issued a "neutral" rating and a $115.00 price objective for the company. Scotiabank upped their target price on shares of Shopify from $75.00 to $80.00 and gave the company a "sector perform" rating in a research report on Thursday, October 24th. Robert W. Baird lifted their price target on shares of Shopify from $90.00 to $126.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. 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 report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $100.32.

Shopify Stock Performance

Shares of NYSE SHOP traded up $2.64 during midday trading on Thursday, hitting $119.23. 6,043,187 shares of the company's stock were exchanged, compared to its average volume of 6,171,512. 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 firm has a market capitalization of $154.06 billion, a PE ratio of 111.43, a price-to-earnings-growth ratio of 2.24 and a beta of 2.46. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $120.72. The company's 50 day moving average price is $109.91 and its 200 day moving average price is $88.09.

Shopify Company 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.