Watts Gwilliam & Co. LLC Grows Stock Position in Shopify Inc. (NYSE:SHOP)

Watts Gwilliam & Co. LLC lifted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 53.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SHOP. Oliver Lagore Vanvalin Investment Group lifted 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 buying an additional 200 shares in the last quarter. Brooklyn Investment Group purchased a new position in Shopify during the third quarter valued at approximately $33,000. Rosenberg Matthew Hamilton boosted its position in shares of 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 purchasing an additional 133 shares during the period. Hazlett Burt & Watson Inc. purchased a new stake in shares of Shopify in the second quarter worth $33,000. Finally, Truvestments Capital LLC bought a new stake in shares of Shopify during the 3rd quarter valued at $45,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Trading Up 0.9 %

NYSE SHOP opened at $107.74 on Friday. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The firm has a market cap of $139.21 billion, a PE ratio of 100.69, a price-to-earnings-growth ratio of 2.98 and a beta of 2.46. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $120.72. The company has a 50 day moving average price of $106.86 and a 200 day moving average price of $83.99.

Analysts Set New Price Targets

SHOP has been the topic of several research analyst reports. Citigroup boosted their price objective on Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Royal Bank of Canada raised their target price on shares of Shopify from $100.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Moffett Nathanson raised their price objective on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Piper Sandler increased their price objective on shares of Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Finally, Mizuho lifted their target price on Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $99.88.

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.