Howland Capital Management LLC Boosts Stock Holdings in Shopify Inc. (NYSE:SHOP)

Howland Capital Management LLC grew its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,949 shares of the software maker’s stock after purchasing an additional 99 shares during the period. Howland Capital Management LLC’s holdings in Shopify were worth $526,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in SHOP. Entropy Technologies LP purchased a new position in Shopify in the fourth quarter worth $2,550,000. Empowered Funds LLC raised its stake in shares of Shopify by 39.7% during the 4th quarter. Empowered Funds LLC now owns 31,355 shares of the software maker’s stock worth $3,334,000 after purchasing an additional 8,909 shares during the period. Moloney Securities Asset Management LLC boosted its holdings in shares of Shopify by 3.3% in the 4th quarter. Moloney Securities Asset Management LLC now owns 44,535 shares of the software maker’s stock worth $4,735,000 after buying an additional 1,435 shares during the last quarter. Advisory Resource Group bought a new position in Shopify during the fourth quarter valued at about $1,054,000. Finally, Wilmington Savings Fund Society FSB increased its holdings in Shopify by 2.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 7,832 shares of the software maker’s stock worth $833,000 after buying an additional 153 shares during the last quarter. 69.27% of the stock is owned by institutional investors.

Shopify Price Performance

SHOP opened at $117.33 on Monday. The stock has a market capitalization of $151.60 billion, a P/E ratio of 109.65, a PEG ratio of 2.49 and a beta of 2.47. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $122.81. The stock has a 50-day moving average price of $110.91 and a 200-day moving average price of $90.72.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Piper Sandler increased their target price on shares of Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Wells Fargo & Company increased their price objective on Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and boosted their target price for the company from $110.00 to $140.00 in a research note on Friday, December 6th. KeyCorp increased their price target on Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $130.00 price objective on shares of Shopify in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus 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.