RMR Wealth Builders Has $1.15 Million Stock Holdings in Shopify Inc. (NYSE:SHOP)

RMR Wealth Builders increased its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,846 shares of the software maker’s stock after purchasing an additional 305 shares during the quarter. RMR Wealth Builders’ holdings in Shopify were worth $1,153,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Sugarloaf Wealth Management LLC boosted its stake in Shopify by 53.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 1,720 shares of the software maker’s stock worth $183,000 after purchasing an additional 600 shares in the last quarter. ORG Wealth Partners LLC raised its holdings in shares of Shopify by 9.3% in the fourth quarter. ORG Wealth Partners LLC now owns 6,410 shares of the software maker’s stock valued at $682,000 after buying an additional 548 shares during the last quarter. Baker Tilly Wealth Management LLC lifted its position in Shopify by 3.2% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 14,437 shares of the software maker’s stock worth $1,535,000 after buying an additional 445 shares in the last quarter. Watts Gwilliam & Co. LLC grew its holdings in Shopify by 53.0% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock worth $1,431,000 after acquiring an additional 4,641 shares during the last quarter. Finally, First Hawaiian Bank acquired a new stake in Shopify in the 4th quarter valued at about $744,000. 69.27% of the stock is currently owned by institutional investors.

Shopify Price Performance

Shares of SHOP traded down $3.73 during mid-day trading on Friday, hitting $103.91. 8,963,606 shares of the company traded hands, compared to its average volume of 5,782,770. The business has a 50-day moving average of $106.86 and a 200 day moving average of $83.99. The stock has a market capitalization of $134.26 billion, a price-to-earnings ratio of 97.11, a PEG ratio of 2.98 and a beta of 2.46. Shopify Inc. has a one year low of $48.56 and a one year high of $120.72. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09.

Wall Street Analysts Forecast Growth

SHOP has been the subject of a number of analyst reports. Barclays lifted their target price on shares of Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. JMP Securities reiterated a “market outperform” rating and issued a $120.00 price objective on shares of Shopify in a report on Thursday, December 12th. Redburn Atlantic upgraded Shopify from a “neutral” rating to a “buy” rating and set a $99.00 target price on the stock in a report on Tuesday, September 17th. Moffett Nathanson upped their target price on shares of Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, Mizuho lifted their target price on Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.31.

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.