Oppenheimer & Co. Inc. Has $2.69 Million Holdings in Shopify Inc. (NYSE:SHOP)

Oppenheimer & Co. Inc. grew its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 26.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,609 shares of the software maker’s stock after buying an additional 7,027 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Shopify were worth $2,693,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in SHOP. Oliver Lagore Vanvalin Investment Group grew its stake in Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after acquiring an additional 200 shares in the last quarter. Rosenberg Matthew Hamilton increased its stake in shares of Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after acquiring an additional 133 shares during the last quarter. Cultivar Capital Inc. purchased a new stake in shares of Shopify during the second quarter worth $33,000. Hazlett Burt & Watson Inc. acquired a new stake in Shopify during the second quarter valued at $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Shopify in the second quarter valued at about $39,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SHOP has been the subject of several research reports. Wells Fargo & Company lifted their price target on Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday. Roth Mkm lifted their target price on shares of Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Truist Financial increased their price target on shares of Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday. Atb Cap Markets lowered shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, JMP Securities raised their target price on Shopify from $80.00 to $120.00 and gave the company a “market outperform” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.95.

Shopify Stock Down 0.5 %

Shares of NYSE:SHOP opened at $108.49 on Friday. The company has a market capitalization of $139.99 billion, a PE ratio of 101.38, a P/E/G ratio of 3.71 and a beta of 2.36. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.10. The company’s fifty day moving average is $81.97 and its 200-day moving average is $71.02. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $115.62.

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.