2,230 Shares in Shopify Inc. (NYSE:SHOP) Acquired by Segment Wealth Management LLC

Segment Wealth Management LLC purchased a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,230 shares of the software maker’s stock, valued at approximately $237,000.

A number of other large investors also recently bought and sold shares of the stock. Oliver Lagore Vanvalin Investment Group increased its holdings 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 worth $26,000 after buying an additional 200 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Shopify during the third quarter worth about $33,000. Rosenberg Matthew Hamilton lifted 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 valued at $36,000 after purchasing an additional 133 shares in the last quarter. Truvestments Capital LLC purchased a new position in Shopify in the third quarter valued at approximately $45,000. Finally, GAMMA Investing LLC lifted its position in Shopify by 73.5% during the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after buying an additional 253 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wedbush raised shares of Shopify from a “neutral” rating to an “outperform” rating and raised their target price for the company from $115.00 to $125.00 in a research note on Monday, January 6th. Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $110.00 to $140.00 in a research note on Friday, December 6th. Barclays increased their target price on Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $70.00 price objective on shares of Shopify in a research report on Monday, October 7th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.31.

Shopify Stock Performance

Shares of SHOP opened at $106.44 on Wednesday. The firm has a market capitalization of $137.54 billion, a PE ratio of 99.48, a P/E/G ratio of 2.17 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. The firm has a 50-day moving average price of $109.65 and a 200 day moving average price of $86.09. Shopify Inc. has a 52-week low of $48.56 and a 52-week 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.