Shopify Inc. (NYSE:SHOP) Shares Acquired by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. lifted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 16.2% in the third quarter, Holdings Channel reports. The firm owned 13,966 shares of the software maker’s stock after purchasing an additional 1,952 shares during the period. Great Valley Advisor Group Inc.’s holdings in Shopify were worth $1,119,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group grew 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 buying an additional 200 shares during the period. Cultivar Capital Inc. acquired a new position in shares of Shopify during the 2nd quarter valued at $33,000. Hazlett Burt & Watson Inc. acquired a new position in shares of Shopify during the 2nd quarter valued at $33,000. Rosenberg Matthew Hamilton increased its holdings in Shopify by 41.3% in 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 in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Shopify in the second quarter valued at about $39,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

Shares of NYSE SHOP opened at $111.03 on Tuesday. 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 $143.27 billion, a PE ratio of 103.77, a P/E/G ratio of 2.81 and a beta of 2.36. 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 business’s fifty day moving average price is $86.25 and its two-hundred day moving average price is $72.53.

Analyst Ratings Changes

SHOP has been the subject of several analyst reports. Redburn Atlantic raised Shopify from a “neutral” rating to a “buy” rating and set a $99.00 target price for the company in a research report on Tuesday, September 17th. Atb Cap Markets cut Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Cantor Fitzgerald reiterated a “neutral” rating and set a $70.00 price objective on shares of Shopify in a research note on Monday, October 7th. Piper Sandler boosted their target price on shares of Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Finally, Barclays raised their price target on shares of Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $94.95.

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.