Saxony Capital Management LLC Purchases Shares of 3,245 Shopify Inc. (NYSE:SHOP)

Saxony Capital Management LLC acquired a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,245 shares of the software maker’s stock, valued at approximately $345,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. New Wave Wealth Advisors LLC acquired a new position in shares of Shopify during the fourth quarter valued at about $39,000. Brooklyn Investment Group bought a new stake in shares of Shopify in the 3rd quarter worth approximately $33,000. Rosenberg Matthew Hamilton grew its holdings 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 in the last quarter. Synergy Asset Management LLC acquired a new position in shares of Shopify in the fourth quarter valued at $55,000. Finally, Truvestments Capital LLC bought a new position in Shopify in the third quarter worth $45,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of Shopify stock opened at $119.23 on Friday. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $120.72. 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 stock has a market capitalization of $154.06 billion, a price-to-earnings ratio of 111.43, a PEG ratio of 2.45 and a beta of 2.46. The firm has a fifty day moving average of $110.16 and a two-hundred day moving average of $88.30.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. 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 report on Wednesday, November 13th. 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $130.00 price objective on shares of Shopify in a report on Wednesday, January 22nd. Loop Capital raised Shopify from a “hold” rating to a “buy” rating and increased their target price for the stock from $110.00 to $140.00 in a report on Friday, December 6th. Finally, Atb Cap Markets lowered Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and a consensus target price of $100.32.

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.