Shopify Inc. (NYSE:SHOP) Shares Bought by Griffin Asset Management Inc.

Griffin Asset Management Inc. lifted its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,925 shares of the software maker’s stock after acquiring an additional 275 shares during the quarter. Griffin Asset Management Inc.’s holdings in Shopify were worth $1,693,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kathmere Capital Management LLC acquired a new position in shares of Shopify during the 2nd quarter valued at $184,000. Creative Planning raised its position in Shopify by 45.5% in the second quarter. Creative Planning now owns 376,040 shares of the software maker’s stock worth $24,837,000 after acquiring an additional 117,593 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in Shopify by 6.8% in the 2nd quarter. Sunbelt Securities Inc. now owns 14,399 shares of the software maker’s stock valued at $951,000 after acquiring an additional 915 shares during the last quarter. Wallace Advisory Group LLC bought a new position in shares of Shopify during the 2nd quarter valued at about $652,000. Finally, Seaport Global Advisors LLC grew its stake in shares of Shopify by 6.6% in the 2nd quarter. Seaport Global Advisors LLC now owns 13,672 shares of the software maker’s stock worth $903,000 after purchasing an additional 847 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 0.3 %

Shares of Shopify stock opened at $107.41 on Tuesday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $120.72. The company’s fifty day simple moving average is $109.37 and its 200-day simple moving average is $87.22. The company has a market cap of $138.78 billion, a price-to-earnings ratio of 100.38, a PEG ratio of 2.24 and a beta of 2.46. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SHOP. Loop Capital upgraded shares of Shopify from a “hold” rating to a “buy” rating and raised their target price for the stock from $110.00 to $140.00 in a report on Friday, December 6th. Scotiabank raised their price objective on Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 24th. Citigroup boosted their target price on Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Wedbush upgraded Shopify from a “neutral” rating to an “outperform” rating and increased their price target for the company from $115.00 to $125.00 in a research report on Monday, January 6th. Finally, Mizuho boosted their price objective on Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $100.32.

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.