Global Retirement Partners LLC boosted its holdings in Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) by 4.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,651 shares of the software maker’s stock after purchasing an additional 449 shares during the period. Global Retirement Partners LLC’s holdings in Shopify were worth $854,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV grew its position in shares of Shopify by 7.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock worth $159,000 after buying an additional 129 shares in the last quarter. CVA Family Office LLC increased its position in shares of Shopify by 11.8% in the 3rd quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock worth $109,000 after purchasing an additional 143 shares during the last quarter. Willis Johnson & Associates Inc. raised its stake in shares of Shopify by 5.8% in the 1st quarter. Willis Johnson & Associates Inc. now owns 2,728 shares of the software maker’s stock valued at $211,000 after purchasing an additional 149 shares in the last quarter. Valley National Advisers Inc. grew its stake in Shopify by 11.4% in the first quarter. Valley National Advisers Inc. now owns 1,482 shares of the software maker’s stock worth $114,000 after purchasing an additional 152 shares in the last quarter. Finally, Wolff Wiese Magana LLC increased its holdings in Shopify by 5.4% in the third quarter. Wolff Wiese Magana LLC now owns 2,974 shares of the software maker’s stock valued at $238,000 after buying an additional 152 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.
Shopify Stock Performance
Shares of NYSE SHOP opened at $82.68 on Friday. Shopify Inc. has a 52-week low of $45.50 and a 52-week high of $91.57. The stock has a market capitalization of $106.55 billion, a price-to-earnings ratio of 84.37, a PEG ratio of 2.80 and a beta of 2.36. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10. The stock’s fifty day simple moving average is $76.26 and its 200 day simple moving average is $68.87.
Wall Street Analyst Weigh In
A number of research firms have commented on SHOP. JPMorgan Chase & Co. increased their target price on Shopify from $74.00 to $76.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. JMP Securities restated a “market outperform” rating and set a $80.00 price objective on shares of Shopify in a research note on Tuesday, September 10th. Truist Financial lowered their target price on shares of Shopify from $65.00 to $55.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Roth Mkm raised their price target on shares of Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $79.36.
Check Out Our Latest Stock 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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