Whitaker Myers Wealth Managers LTD. Takes $459,000 Position in Shopify Inc. (NYSE:SHOP)

Whitaker Myers Wealth Managers LTD. bought a new stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,313 shares of the software maker's stock, valued at approximately $459,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swiss National Bank boosted its holdings in shares of Shopify by 0.9% in the 3rd quarter. Swiss National Bank now owns 3,657,800 shares of the software maker's stock worth $293,507,000 after purchasing an additional 33,300 shares during the period. Watts Gwilliam & Co. LLC boosted its holdings in shares of Shopify by 53.0% in the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker's stock worth $1,431,000 after purchasing an additional 4,641 shares during the period. Teachers Retirement System of The State of Kentucky boosted its holdings in Shopify by 29.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker's stock valued at $27,409,000 after acquiring an additional 77,500 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in Shopify by 26.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker's stock valued at $2,693,000 after acquiring an additional 7,027 shares during the period. Finally, Nations Financial Group Inc. IA ADV boosted its holdings in Shopify by 4.6% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker's stock valued at $381,000 after acquiring an additional 209 shares during the period. Institutional investors own 69.27% of the company's stock.

Shopify Stock Performance

SHOP traded down $0.25 on Friday, reaching $103.25. 5,579,542 shares of the stock were exchanged, compared to its average volume of 4,488,373. The company's 50-day moving average price is $109.39 and its 200 day moving average price is $85.70. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $120.72. 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 firm has a market capitalization of $133.41 billion, a PE ratio of 96.50, a PEG ratio of 2.18 and a beta of 2.46.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SHOP shares. Piper Sandler boosted their target price 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. New Street Research initiated coverage on shares of Shopify in a research report on Friday, January 10th. They issued a "neutral" rating and a $115.00 price objective for the company. Mizuho raised their target price on shares of Shopify from $68.00 to $105.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 13th. Atb Cap Markets lowered Shopify from a "strong-buy" rating to a "hold" rating in a report on Tuesday, November 12th. Finally, Royal Bank of Canada raised their price objective on Shopify from $100.00 to $130.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Shopify presently has a consensus rating of "Moderate Buy" and an average target price of $100.31.

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.