Sunbelt Securities Inc. Raises Stock Position in Shopify Inc. (NYSE:SHOP)

Sunbelt Securities Inc. increased its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,504 shares of the software maker’s stock after acquiring an additional 105 shares during the quarter. Sunbelt Securities Inc.’s holdings in Shopify were worth $1,162,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Moser Wealth Advisors LLC boosted its holdings in Shopify by 1.4% in the third quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock worth $755,000 after acquiring an additional 128 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in Shopify by 7.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock valued at $159,000 after purchasing an additional 129 shares in the last quarter. Rosenberg Matthew Hamilton raised its holdings in shares of Shopify by 41.3% in the third 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 last quarter. CVA Family Office LLC lifted its position in Shopify by 11.8% during the 3rd quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock worth $109,000 after acquiring an additional 143 shares during the period. Finally, Twin Peaks Wealth Advisors LLC increased its holdings in shares of Shopify by 3.5% in the third quarter. Twin Peaks Wealth Advisors LLC now owns 4,282 shares of the software maker’s stock valued at $343,000 after purchasing an additional 145 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

SHOP has been the subject of a number of research reports. Citigroup lifted their target price on Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Redburn Atlantic upgraded shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price objective for the company in a research note on Tuesday, September 17th. Royal Bank of Canada increased their price objective on shares of Shopify from $100.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Oppenheimer raised their target price on shares of Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Piper Sandler upped their price target on shares of Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $98.08.

Shopify Stock Performance

NYSE:SHOP opened at $117.40 on Thursday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $120.72. The company has a market cap of $151.69 billion, a P/E ratio of 109.72, a P/E/G ratio of 3.08 and a beta of 2.46. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The company’s 50-day moving average price is $93.99 and its 200-day moving average price is $76.84.

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.