Great Valley Advisor Group Inc. Grows Stock Position in Shopify Inc. (NYSE:SHOP)

Great Valley Advisor Group Inc. increased its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 16.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,966 shares of the software maker’s stock after purchasing an additional 1,952 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Shopify were worth $1,119,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group lifted its stake in shares of Shopify by 100.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after acquiring an additional 200 shares during the period. Rosenberg Matthew Hamilton lifted its position in Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after purchasing an additional 133 shares during the period. Cultivar Capital Inc. acquired a new stake in Shopify in the second quarter valued at about $33,000. Hazlett Burt & Watson Inc. purchased a new stake in Shopify in the 2nd quarter valued at approximately $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Shopify during the 2nd quarter worth approximately $39,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on SHOP. JPMorgan Chase & Co. raised their price target on Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Evercore ISI boosted their target price on shares of Shopify from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Robert W. Baird upped their price target on shares of Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Oppenheimer raised their price objective on shares of Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Redburn Atlantic raised shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 target price for the company in a report on Tuesday, September 17th. 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 company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $94.95.

Shopify Price Performance

Shopify stock opened at $111.03 on Tuesday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $115.62. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The firm has a 50 day moving average price of $86.25 and a 200 day moving average price of $72.53. The company has a market cap of $143.27 billion, a price-to-earnings ratio of 103.77, a PEG ratio of 2.81 and a beta of 2.36.

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.