Shopify Inc. (NYSE:SHOP) Shares Purchased by Prospect Financial Services LLC

Prospect Financial Services LLC boosted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 40.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 5,033 shares of the software maker’s stock after acquiring an additional 1,442 shares during the quarter. Prospect Financial Services LLC’s holdings in Shopify were worth $535,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Trust Co. of Vermont lifted its position in Shopify by 9.9% during the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after purchasing an additional 100 shares during the period. First United Bank & Trust raised its stake in shares of Shopify by 2.2% during the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock valued at $488,000 after buying an additional 100 shares during the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of Shopify by 0.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock valued at $1,162,000 after buying an additional 105 shares during the period. Redhawk Wealth Advisors Inc. boosted its stake in shares of Shopify by 3.3% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock worth $357,000 after buying an additional 107 shares during the last quarter. Finally, Moser Wealth Advisors LLC grew its holdings in Shopify by 1.4% during the third quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock worth $755,000 after acquiring an additional 128 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Down 0.3 %

Shopify stock opened at $107.41 on Tuesday. The company has a market capitalization of $138.78 billion, a P/E ratio of 100.38, a PEG ratio of 2.24 and a beta of 2.46. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $120.72. The stock has a 50-day simple moving average of $109.37 and a 200-day simple moving average of $87.22.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SHOP shares. Mizuho upped their price objective on shares of Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Wells Fargo & Company increased their price target on Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Barclays raised their price objective on Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. Truist Financial upped their target price on Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group boosted their price target on shares of Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.32.

About Shopify

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.