Fiduciary Planning LLC Purchases New Position in Shopify Inc. (NYSE:SHOP)

Fiduciary Planning LLC purchased a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 5,921 shares of the software maker’s stock, valued at approximately $630,000.

Other hedge funds have also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new stake in Shopify during the 3rd quarter worth approximately $33,000. Rosenberg Matthew Hamilton raised its holdings in Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after buying an additional 133 shares during the period. New Wave Wealth Advisors LLC bought a new position in shares of Shopify during the 4th quarter worth approximately $39,000. Truvestments Capital LLC bought a new position in shares of Shopify during the 3rd quarter worth approximately $45,000. Finally, GAMMA Investing LLC grew its stake in shares of Shopify by 73.5% during the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock worth $48,000 after acquiring an additional 253 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Down 2.1 %

SHOP stock opened at $116.70 on Monday. The company has a market cap of $150.79 billion, a PE ratio of 109.07, a price-to-earnings-growth ratio of 2.46 and a beta of 2.47. The business has a 50-day simple moving average of $110.36 and a 200 day simple moving average of $88.97. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $122.00. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09.

Analysts Set New Price Targets

SHOP has been the subject of several research reports. Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and raised their price target for the stock from $110.00 to $140.00 in a research note on Friday, December 6th. Truist Financial raised their price target on shares of Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $130.00 price target on shares of Shopify in a research note on Wednesday, January 22nd. DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Finally, Mizuho raised their target price on shares of Shopify from $68.00 to $105.00 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, fifteen have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $100.32.

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.