Cypress Wealth Services LLC Purchases 555 Shares of Shopify Inc. (NYSE:SHOP)

Cypress Wealth Services LLC increased its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,515 shares of the software maker’s stock after purchasing an additional 555 shares during the quarter. Cypress Wealth Services LLC’s holdings in Shopify were worth $1,756,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group raised its stake in Shopify by 100.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after buying an additional 200 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Shopify in the 3rd quarter valued at $33,000. Rosenberg Matthew Hamilton raised its position in shares of Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after acquiring an additional 133 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of Shopify during the 3rd quarter worth $45,000. Finally, GAMMA Investing LLC boosted its position in Shopify by 73.5% during the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after purchasing an additional 253 shares in the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Performance

Shares of SHOP stock opened at $103.47 on Friday. Shopify Inc. has a one year low of $48.56 and a one year high of $120.72. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The firm’s 50 day moving average price is $108.71 and its 200-day moving average price is $85.17. The firm has a market cap of $133.70 billion, a P/E ratio of 96.71, a P/E/G ratio of 2.18 and a beta of 2.46.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Canaccord Genuity Group increased their price target on shares of Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald reissued a “neutral” rating and set a $70.00 target price on shares of Shopify in a research report on Monday, October 7th. JMP Securities restated a “market outperform” rating and set a $120.00 target price on shares of Shopify in a research note on Thursday, December 12th. Wells Fargo & Company increased their price target on Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, New Street Research started coverage on shares of Shopify in a research note on Friday, January 10th. They set a “neutral” rating and a $115.00 price target on the stock. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $100.31.

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.