Townsquare Capital LLC Has $38.58 Million Stock Position in Shopify Inc. (NYSE:SHOP)

Townsquare Capital LLC boosted its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 32.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 481,447 shares of the software maker's stock after purchasing an additional 118,961 shares during the period. Townsquare Capital LLC's holdings in Shopify were worth $38,583,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Moser Wealth Advisors LLC boosted its position in Shopify by 1.4% in the 3rd quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker's stock valued at $755,000 after buying an additional 128 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in shares of Shopify by 7.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker's stock worth $159,000 after purchasing an additional 129 shares during the last quarter. Rosenberg Matthew Hamilton lifted its position in shares of Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker's stock worth $36,000 after purchasing an additional 133 shares during the last quarter. CVA Family Office LLC lifted its position in shares of Shopify by 11.8% during the 3rd quarter. CVA Family Office LLC now owns 1,354 shares of the software maker's stock worth $109,000 after purchasing an additional 143 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC lifted its position in shares of Shopify by 3.5% during the 3rd quarter. Twin Peaks Wealth Advisors LLC now owns 4,282 shares of the software maker's stock worth $343,000 after purchasing an additional 145 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.

Shopify Trading Down 0.1 %

Shares of SHOP stock traded down $0.09 during trading hours on Wednesday, reaching $111.99. 2,818,450 shares of the stock traded hands, compared to its average volume of 9,306,103. The business has a fifty day moving average price of $87.00 and a 200 day moving average price of $72.90. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $115.62. The firm has a market capitalization of $144.51 billion, a PE ratio of 104.75, a PEG ratio of 2.92 and a beta of 2.36. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09.

Analysts Set New Price Targets

SHOP has been the subject of a number of research reports. Barclays boosted their price target on shares of Shopify from $70.00 to $93.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 13th. Wedbush reissued a "neutral" rating and issued a $115.00 price target (up from $72.00) on shares of Shopify in a research report on Tuesday, November 12th. Cantor Fitzgerald reissued a "neutral" rating and issued a $70.00 price target on shares of Shopify in a research report on Monday, October 7th. Argus upgraded shares of Shopify to a "strong-buy" rating in a research note on Thursday, August 8th. Finally, Piper Sandler lifted their price objective on shares of Shopify from $67.00 to $94.00 and gave the company a "neutral" rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Shopify presently has a consensus rating of "Moderate Buy" and a consensus target price of $95.84.

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.