BSW Wealth Partners Acquires Shares of 2,531 Shopify Inc. (NYSE:SHOP)

BSW Wealth Partners acquired a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,531 shares of the software maker’s stock, valued at approximately $269,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SHOP. Brooklyn Investment Group purchased a new position in Shopify during the 3rd quarter worth approximately $33,000. Rosenberg Matthew Hamilton grew its position in shares of 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. Truvestments Capital LLC acquired a new position in shares of Shopify in the 3rd quarter valued at $45,000. GAMMA Investing LLC raised its position in Shopify by 73.5% in the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after purchasing an additional 253 shares during the last quarter. Finally, HM Payson & Co. boosted its stake in Shopify by 37.2% during the 3rd quarter. HM Payson & Co. now owns 686 shares of the software maker’s stock worth $55,000 after purchasing an additional 186 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SHOP. Loop Capital upgraded shares of Shopify from a “hold” rating to a “buy” rating and lifted their price objective for the company from $110.00 to $140.00 in a research note on Friday, December 6th. KeyCorp boosted their price target on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. JMP Securities reaffirmed a “market outperform” rating and set a $120.00 price objective on shares of Shopify in a research report on Thursday, December 12th. Wells Fargo & Company boosted their target price on Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, Scotiabank increased their price target on Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $100.32.

Shopify Stock Performance

Shopify stock opened at $116.69 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $120.72. The stock has a fifty day moving average of $109.65 and a two-hundred day moving average of $87.89. The company has a market capitalization of $150.77 billion, a price-to-earnings ratio of 109.05, a PEG ratio of 2.24 and a beta of 2.46.

About Shopify

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.