Shopify Inc. (NYSE:SHOP) is Weaver Capital Management LLC’s 10th Largest Position

Weaver Capital Management LLC boosted its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 53,185 shares of the software maker’s stock after acquiring an additional 2,999 shares during the quarter. Shopify makes up approximately 1.6% of Weaver Capital Management LLC’s holdings, making the stock its 10th largest position. Weaver Capital Management LLC’s holdings in Shopify were worth $5,655,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SHOP. Brooklyn Investment Group acquired a new position in shares of Shopify during the 3rd quarter worth $33,000. Rosenberg Matthew Hamilton grew its stake in Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after buying an additional 133 shares during the last quarter. New Wave Wealth Advisors LLC acquired a new position in Shopify in the 4th quarter valued at $39,000. Mather Group LLC. grew its stake in Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after buying an additional 184 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new position in Shopify in the 3rd quarter valued at $45,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of SHOP opened at $119.31 on Wednesday. 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 twelve month low of $48.56 and a twelve month high of $122.00. The firm’s 50 day moving average price is $110.42 and its two-hundred day moving average price is $89.33. The firm has a market cap of $154.16 billion, a P/E ratio of 111.50, a PEG ratio of 2.46 and a beta of 2.47.

Wall Street Analyst Weigh In

SHOP has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their target price on shares of Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group raised their price target on shares of Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. KeyCorp raised their price target on shares of Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Truist Financial raised their price target on shares of Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. Finally, Barclays raised their price objective on shares of Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Shopify currently has an average 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.