Yarger Wealth Strategies LLC Buys New Position in Shopify Inc. (NYSE:SHOP)

Yarger Wealth Strategies LLC purchased a new position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,942 shares of the software maker's stock, valued at approximately $313,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group grew its position in shares of Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker's stock valued at $26,000 after acquiring an additional 200 shares during the period. Brooklyn Investment Group bought a new position in Shopify during the third quarter valued at $33,000. Rosenberg Matthew Hamilton increased its position in Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker's stock worth $36,000 after buying an additional 133 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of Shopify in the third quarter valued at $45,000. Finally, GAMMA Investing LLC lifted its position in shares of Shopify by 73.5% during the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker's stock valued at $48,000 after buying an additional 253 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SHOP. Cantor Fitzgerald reissued a "neutral" rating and issued a $70.00 price objective on shares of Shopify in a report on Monday, October 7th. Robert W. Baird boosted their price target on shares of Shopify from $90.00 to $126.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Scotiabank upped their price target on shares of Shopify from $75.00 to $80.00 and gave the company a "sector perform" rating in a research note on Thursday, October 24th. Oppenheimer lifted their price objective on shares of Shopify from $90.00 to $130.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Finally, New Street Research assumed coverage on Shopify in a research report on Friday, January 10th. They set a "neutral" rating and a $115.00 target price on the stock. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Shopify has a consensus rating of "Moderate Buy" and an average target price of $100.31.

Shopify Trading Down 0.2 %

Shares of NYSE SHOP traded down $0.25 during mid-day trading on Friday, hitting $103.25. The stock had a trading volume of 5,579,542 shares, compared to its average volume of 4,488,373. The firm has a market cap of $133.41 billion, a P/E 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 quick ratio of 7.10 and a current ratio of 7.10. The business has a 50 day moving average price of $109.39 and a two-hundred day moving average price of $85.57. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $120.72.

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.