Watts Gwilliam & Co. LLC Acquires 4,641 Shares of Shopify Inc. (NYSE:SHOP)

Watts Gwilliam & Co. LLC grew its position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 53.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,401 shares of the software maker's stock after purchasing an additional 4,641 shares during the period. Watts Gwilliam & Co. LLC's holdings in Shopify were worth $1,431,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group grew its holdings in Shopify by 100.0% during the 2nd 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 during the last quarter. Hazlett Burt & Watson Inc. bought a new stake in shares of Shopify during the second quarter valued at approximately $33,000. Brooklyn Investment Group bought a new stake in shares of Shopify during the third quarter valued at approximately $33,000. Rosenberg Matthew Hamilton increased its holdings in shares of Shopify by 41.3% in 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 in the last quarter. Finally, Truvestments Capital LLC bought a new position in Shopify in the 3rd quarter worth approximately $45,000. 69.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Atb Cap Markets lowered Shopify from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, November 12th. Redburn Atlantic upgraded Shopify from a "neutral" rating to a "buy" rating and set a $99.00 price objective for the company in a research report on Tuesday, September 17th. Cantor Fitzgerald restated a "neutral" rating and set a $70.00 target price on shares of Shopify in a research report on Monday, October 7th. Citigroup raised their target price on shares of Shopify from $90.00 to $103.00 and gave the company a "buy" rating in a research note on Monday, September 30th. Finally, Wedbush raised shares of 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 research note on Monday. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $99.88.

Shopify Stock Up 0.9 %

Shares of SHOP stock opened at $107.74 on Friday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $120.72. The firm has a market capitalization of $139.21 billion, a P/E ratio of 100.69, a PEG ratio of 2.98 and a beta of 2.46. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The firm's fifty day moving average price is $106.86 and its two-hundred day moving average price is $83.99.

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.