Vance Wealth Inc. Takes $317,000 Position in Shopify Inc. (NYSE:SHOP)

Vance Wealth Inc. acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,953 shares of the software maker’s stock, valued at approximately $317,000.

Other large investors have also made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group increased its holdings in shares of Shopify by 100.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. Cultivar Capital Inc. bought a new stake in shares of Shopify in the second quarter worth about $33,000. Hazlett Burt & Watson Inc. bought a new stake in Shopify during the second quarter worth approximately $33,000. Rosenberg Matthew Hamilton increased its stake in Shopify by 41.3% during 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. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Shopify during the second quarter worth approximately $39,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Performance

Shares of SHOP opened at $105.90 on Tuesday. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $115.62. The stock has a fifty day moving average price of $82.73 and a 200-day moving average price of $71.27. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.10. The firm has a market cap of $136.65 billion, a PE ratio of 98.97, a P/E/G ratio of 3.45 and a beta of 2.36.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SHOP. Redburn Atlantic raised Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price objective on the stock in a research note on Tuesday, September 17th. Argus raised Shopify to a “strong-buy” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted their price objective on Shopify from $74.00 to $76.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Canaccord Genuity Group boosted their price objective on Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, UBS Group boosted their price objective on Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.