Zhang Financial LLC Increases Stock Position in Shopify Inc. (NYSE:SHOP)

Zhang Financial LLC boosted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,253 shares of the software maker’s stock after buying an additional 282 shares during the period. Zhang Financial LLC’s holdings in Shopify were worth $771,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group increased its stake in shares of Shopify by 100.0% in 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. Brooklyn Investment Group bought a new stake in shares of Shopify during the 3rd quarter valued at $33,000. Rosenberg Matthew Hamilton increased its stake in shares of Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after acquiring an additional 133 shares in the last quarter. Truvestments Capital LLC purchased a new position in Shopify during the 3rd quarter valued at about $45,000. Finally, GAMMA Investing LLC boosted its stake in Shopify by 73.5% during the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock worth $48,000 after acquiring an additional 253 shares in the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Royal Bank of Canada lifted their target price on shares of Shopify from $100.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. JMP Securities reissued a “market outperform” rating and issued a $120.00 target price on shares of Shopify in a report on Thursday, December 12th. Moffett Nathanson raised their price target on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Barclays upped their price target on shares of Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Finally, Oppenheimer raised 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. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and a consensus target price of $100.31.

Shopify Stock Down 0.2 %

Shares of SHOP stock opened at $103.25 on Tuesday. The company’s fifty day simple moving average is $109.39 and its two-hundred day simple moving average is $85.84. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $120.72. The stock has a market cap of $133.41 billion, a P/E ratio of 96.50, a PEG ratio of 2.18 and a beta of 2.46. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09.

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.