Kimelman & Baird LLC acquired a new position in shares of Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) in the 2nd quarter, Holdings Channel reports. The fund acquired 2,000 shares of the software maker’s stock, valued at approximately $132,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Oliver Lagore Vanvalin Investment Group boosted its position in Shopify by 100.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in Shopify during the fourth quarter valued at approximately $28,000. Cultivar Capital Inc. acquired a new position in Shopify during the second quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. acquired a new position in Shopify during the second quarter valued at approximately $33,000. Finally, OLD Point Trust & Financial Services N A acquired a new position in Shopify during the fourth quarter valued at approximately $39,000. 69.27% of the stock is owned by institutional investors and hedge funds.
Shopify Trading Up 1.2 %
Shares of SHOP stock opened at $80.15 on Tuesday. The stock’s fifty day moving average price is $70.25 and its two-hundred day moving average price is $68.48. The company has a market cap of $103.29 billion, a PE ratio of -471.47, a P/E/G ratio of 2.69 and a beta of 2.35. Shopify Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $91.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32.
Analyst Upgrades and Downgrades
SHOP has been the subject of several recent research reports. Redburn Atlantic raised Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price target for the company in a research report on Tuesday, September 17th. Wolfe Research started coverage on Shopify in a research report on Tuesday, July 16th. They set an “outperform” rating and a $80.00 price target for the company. Moffett Nathanson cut Shopify from a “buy” rating to a “neutral” rating and cut their price objective for the company from $74.00 to $65.00 in a research report on Thursday, June 6th. Bank of America raised Shopify from a “neutral” rating to a “buy” rating and raised their price objective for the company from $78.00 to $82.00 in a research report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. raised their price objective on Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $78.26.
View Our Latest Analysis on SHOP
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.
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