RMR Wealth Builders Buys 305 Shares of Shopify Inc. (NYSE:SHOP)

RMR Wealth Builders grew its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,846 shares of the software maker’s stock after acquiring an additional 305 shares during the period. RMR Wealth Builders’ holdings in Shopify were worth $1,153,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Swiss National Bank grew its stake in shares of 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 buying an additional 33,300 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in Shopify by 29.3% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock worth $27,409,000 after purchasing an additional 77,500 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Shopify by 26.4% during the third quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock valued at $2,693,000 after acquiring an additional 7,027 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its stake 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 worth $381,000 after purchasing an additional 209 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in Shopify in the third quarter valued at about $33,676,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of NYSE:SHOP traded down $3.73 during midday trading on Friday, reaching $103.91. 8,963,606 shares of the company’s stock traded hands, compared to its average volume of 5,782,770. 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 company has a market cap of $134.26 billion, a price-to-earnings ratio of 97.11, a P/E/G ratio of 2.98 and a beta of 2.46. The stock has a 50 day moving average of $106.86 and a 200 day moving average of $83.99. Shopify Inc. has a one year low of $48.56 and a one year high of $120.72.

Wall Street Analysts Forecast Growth

SHOP has been the topic of a number of recent research reports. Citigroup upped their price target on shares of Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Truist Financial increased their price objective on Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, November 13th. Barclays raised 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. Moffett Nathanson increased their price target on shares of Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Finally, Canaccord Genuity Group boosted their price objective on shares of Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $100.31.

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.