Claro Advisors LLC Invests $456,000 in Shopify Inc. (NYSE:SHOP)

Claro Advisors LLC acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 5,687 shares of the software maker’s stock, valued at approximately $456,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of SHOP. Oppenheimer & Co. Inc. grew its position in shares of Shopify by 26.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock valued at $2,693,000 after buying an additional 7,027 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in Shopify by 4.6% in the third quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker’s stock valued at $381,000 after acquiring an additional 209 shares during the period. Silvercrest Asset Management Group LLC grew its holdings in shares of Shopify by 735.0% during the first quarter. Silvercrest Asset Management Group LLC now owns 52,928 shares of the software maker’s stock valued at $4,084,000 after purchasing an additional 46,589 shares during the last quarter. Baker Avenue Asset Management LP raised its position in shares of Shopify by 10.9% during the 3rd quarter. Baker Avenue Asset Management LP now owns 217,000 shares of the software maker’s stock worth $17,390,000 after purchasing an additional 21,265 shares during the period. Finally, Atria Investments Inc lifted its holdings in shares of Shopify by 16.8% in the 3rd quarter. Atria Investments Inc now owns 158,383 shares of the software maker’s stock worth $12,693,000 after purchasing an additional 22,832 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of SHOP opened at $105.90 on Tuesday. Shopify Inc. has a one year low of $48.56 and a one year high of $115.62. The company has a 50-day moving average of $82.73 and a two-hundred day moving average of $71.27. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.10 and a quick ratio of 7.32. The stock has a market cap of $136.65 billion, a price-to-earnings ratio of 98.97, a PEG ratio of 3.45 and a beta of 2.36.

Analysts Set New Price Targets

A number of brokerages recently commented on SHOP. Benchmark restated a “hold” rating on shares of Shopify in a research note on Tuesday, August 6th. Roth Mkm increased their price objective on shares of Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Canaccord Genuity Group boosted their target price on shares of Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Redburn Atlantic upgraded shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price target on the stock in a research note on Tuesday, September 17th. Finally, Truist Financial lifted their price target on Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and an average target price of $94.95.

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.