Apollon Wealth Management LLC Has $12.56 Million Stake in Shopify Inc. (NYSE:SHOP)

Apollon Wealth Management LLC grew its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.9% during the fourth quarter, HoldingsChannel reports. The firm owned 118,138 shares of the software maker’s stock after buying an additional 3,303 shares during the quarter. Apollon Wealth Management LLC’s holdings in Shopify were worth $12,562,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brooklyn Investment Group acquired a new stake in Shopify in the third quarter valued at approximately $33,000. Rosenberg Matthew Hamilton lifted its stake in shares of 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 acquiring an additional 133 shares during the last quarter. New Wave Wealth Advisors LLC bought a new position in shares of Shopify in the 4th quarter valued at $39,000. Mather Group LLC. boosted its holdings in shares of Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after acquiring an additional 184 shares in the last quarter. Finally, Truvestments Capital LLC bought a new stake in Shopify during the 3rd quarter worth $45,000. 69.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

SHOP has been the subject of several research reports. Wedbush raised Shopify from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $115.00 to $125.00 in a research note on Monday, January 6th. Piper Sandler lifted their target price on shares of Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Moffett Nathanson upped their price target on shares of Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. The Goldman Sachs Group raised their price target 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. Finally, Canaccord Genuity Group boosted their price objective on shares of Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, fifteen have assigned 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $100.32.

Shopify Stock Performance

SHOP opened at $117.33 on Friday. The company has a market cap of $151.60 billion, a price-to-earnings ratio of 109.65, a PEG ratio of 2.49 and a beta of 2.47. The company’s fifty day moving average price is $110.88 and its two-hundred day moving average price is $90.15. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $122.81. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09.

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.