Shopify Inc. (NYSE:SHOP) Stake Boosted by Pin Oak Investment Advisors Inc.

Pin Oak Investment Advisors Inc. grew its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 33.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,185 shares of the software maker’s stock after acquiring an additional 296 shares during the period. Pin Oak Investment Advisors Inc.’s holdings in Shopify were worth $94,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SHOP. Swiss National Bank raised its holdings in Shopify by 0.9% in the 3rd quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock valued at $293,507,000 after acquiring an additional 33,300 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Shopify by 26.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock valued at $2,693,000 after buying an additional 7,027 shares in the last quarter. Nations Financial Group Inc. IA ADV increased its position in shares of Shopify by 4.6% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker’s stock valued at $381,000 after purchasing an additional 209 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Shopify by 6.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,416,436 shares of the software maker’s stock worth $193,802,000 after purchasing an additional 136,530 shares during the last quarter. Finally, Baker Avenue Asset Management LP grew its holdings in Shopify by 10.9% during the third quarter. Baker Avenue Asset Management LP now owns 217,000 shares of the software maker’s stock worth $17,390,000 after acquiring an additional 21,265 shares during the period. 69.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Barclays increased their target price on Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. JMP Securities increased their price target on Shopify from $80.00 to $120.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 13th. UBS Group boosted their target price on Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Mizuho raised their target price on Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Finally, Piper Sandler upped their target price on Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.84.

Shopify Trading Up 0.4 %

Shares of SHOP traded up $0.46 during mid-day trading on Thursday, reaching $112.54. The stock had a trading volume of 4,665,567 shares, compared to its average volume of 9,313,959. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $115.62. The business’s fifty day moving average is $87.75 and its 200 day moving average is $73.18. The firm has a market cap of $145.22 billion, a price-to-earnings ratio of 105.19, a P/E/G ratio of 2.92 and a beta of 2.36.

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.