Somerset Trust Co Takes $306,000 Position in Shopify Inc. (NYSE:SHOP)

Somerset Trust Co purchased 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 disclosure with the SEC. The institutional investor purchased 2,878 shares of the software maker's stock, valued at approximately $306,000.

Several other large investors have also made changes to their positions in SHOP. Oliver Lagore Vanvalin Investment Group raised its stake in Shopify by 100.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker's stock worth $26,000 after acquiring an additional 200 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Shopify during the 3rd quarter valued at approximately $33,000. Rosenberg Matthew Hamilton grew its holdings in shares of Shopify by 41.3% during the 3rd 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 acquired a new position in Shopify during the 3rd quarter worth approximately $45,000. Finally, GAMMA Investing LLC lifted its stake in Shopify by 73.5% in the 3rd 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 last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SHOP. Atb Cap Markets cut shares of Shopify from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, November 12th. DZ Bank lowered Shopify from a "hold" rating to a "sell" rating in a research report on Thursday, November 21st. Canaccord Genuity Group increased their target price on Shopify from $80.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Wedbush upgraded Shopify from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $115.00 to $125.00 in a report on Monday, January 6th. Finally, Moffett Nathanson raised their price objective on shares of Shopify from $86.00 to $99.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $100.31.

Shopify Stock Down 0.2 %

Shares of NYSE:SHOP traded down $0.25 during midday trading on Friday, hitting $103.25. 5,579,542 shares of the company's stock were exchanged, compared to its average volume of 4,488,373. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $120.72. The company has a market cap of $133.41 billion, a PE ratio of 96.50, a price-to-earnings-growth 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 stock has a 50 day moving average price of $109.39 and a 200-day moving average price of $85.57.

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.