ERn Financial LLC Buys New Shares in Shopify Inc. (NYSE:SHOP)

ERn Financial LLC bought a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, Holdings Channel reports. The firm bought 3,280 shares of the software maker’s stock, valued at approximately $349,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Redhawk Wealth Advisors Inc. lifted its position in Shopify by 3.3% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock valued at $357,000 after purchasing an additional 107 shares in the last quarter. Smith Anglin Financial LLC purchased a new position in shares of Shopify in the fourth quarter valued at about $212,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Shopify by 45.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 862 shares of the software maker’s stock valued at $92,000 after acquiring an additional 271 shares in the last quarter. Park Avenue Securities LLC boosted its stake in shares of Shopify by 22.6% in the fourth quarter. Park Avenue Securities LLC now owns 35,278 shares of the software maker’s stock worth $3,751,000 after acquiring an additional 6,505 shares during the period. Finally, SS&H Financial Advisors Inc. purchased a new stake in shares of Shopify during the fourth quarter worth about $247,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Trading Down 0.7 %

SHOP opened at $103.47 on Friday. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $120.72. The company has a market capitalization of $133.70 billion, a P/E ratio of 96.71, a PEG ratio of 2.18 and a beta of 2.46. The stock’s fifty day moving average is $108.71 and its two-hundred day moving average is $85.17. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SHOP shares. Royal Bank of Canada upped their price target on Shopify from $100.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. 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. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Canaccord Genuity Group increased their price objective on shares of Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, New Street Research initiated coverage on Shopify in a report on Friday, January 10th. They issued a “neutral” rating and a $115.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $100.31.

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.