Diversified Trust Co Acquires Shares of 2,625 Shopify Inc. (NYSE:SHOP)

Diversified Trust Co bought a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, Holdings Channel reports. The firm bought 2,625 shares of the software maker’s stock, valued at approximately $279,000.

A number of other institutional investors have also modified their holdings of the stock. Oliver Lagore Vanvalin Investment Group grew its position in Shopify by 100.0% in 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 during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Shopify in the 3rd quarter worth $33,000. Rosenberg Matthew Hamilton boosted its holdings in shares of Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after acquiring an additional 133 shares in the last quarter. Truvestments Capital LLC acquired a new position in shares of Shopify during the third quarter worth about $45,000. Finally, GAMMA Investing LLC raised its holdings 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 purchasing an additional 253 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. New Street Research started coverage on Shopify in a research note on Friday. They issued a “neutral” rating and a $115.00 price target on the stock. The Goldman Sachs Group upped their price objective on Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Citigroup raised their target price on Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Royal Bank of Canada upped their price target on shares of Shopify from $100.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One research 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $100.31.

Shopify Stock Performance

NYSE SHOP opened at $103.91 on Friday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $120.72. The business’s 50-day moving average price is $107.35 and its 200 day moving average price is $84.41. The company has a market capitalization of $134.26 billion, a PE ratio of 97.11, a price-to-earnings-growth ratio of 2.98 and a beta of 2.46. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09.

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.