Nepsis Inc. boosted its position in Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) by 4.7% in the third quarter, HoldingsChannel reports. The firm owned 323,259 shares of the software maker’s stock after buying an additional 14,452 shares during the quarter. Shopify accounts for about 6.1% of Nepsis Inc.’s holdings, making the stock its 3rd largest holding. Nepsis Inc.’s holdings in Shopify were worth $25,906,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the company. Oliver Lagore Vanvalin Investment Group grew its position in Shopify by 100.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after buying an additional 200 shares during the period. Cultivar Capital Inc. bought a new position in shares of Shopify during the 2nd quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. purchased a new stake in shares of Shopify during the 2nd quarter worth approximately $33,000. Private Wealth Management Group LLC increased its stake in shares of Shopify by 53.3% during the 1st quarter. Private Wealth Management Group LLC now owns 518 shares of the software maker’s stock worth $40,000 after purchasing an additional 180 shares during the last quarter. Finally, Redmont Wealth Advisors LLC purchased a new position in Shopify in the first quarter valued at approximately $42,000. Institutional investors own 69.27% of the company’s stock.
Shopify Trading Up 1.3 %
Shares of SHOP stock traded up $1.05 during trading hours on Friday, reaching $82.68. The company’s stock had a trading volume of 3,862,207 shares, compared to its average volume of 9,290,721. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $106.55 billion, a P/E ratio of 84.37, a P/E/G ratio of 2.80 and a beta of 2.36. The firm’s fifty day simple moving average is $76.26 and its 200 day simple moving average is $68.87. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57.
Analyst Ratings Changes
A number of research analysts have recently commented on the company. Wells Fargo & Company upped their price target on Shopify from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, September 11th. Wedbush reiterated a “neutral” rating and set a $72.00 target price (up previously from $68.00) on shares of Shopify in a research report on Wednesday, August 7th. Evercore boosted their price target on shares of Shopify from $75.00 to $80.00 in a research report on Thursday, August 8th. KeyCorp assumed coverage on shares of Shopify in a report on Thursday, July 25th. They issued an “overweight” rating and a $80.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.36.
View Our Latest Analysis on SHOP
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.
Featured Stories
- Five stocks we like better than Shopify
- How to Effectively Use the MarketBeat Ratings Screener
- Is Spotify Stock Poised to Soar? Options Traders Think So
- What is a Bond Market Holiday? How to Invest and Trade
- Misses and Beats: 3 Stocks That Are Moving Markets Right Now
- Asset Allocation: The Key to a Successful Portfolio. Are You Paying Attention to Yours?
- Cisco on the Rise: AI Potential and Analyst Upgrades Drive Gains
Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP).
Receive News & Ratings for Shopify Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify and related companies with MarketBeat.com's FREE daily email newsletter.