Shopify Inc. (NYSE:SHOP) Shares Purchased by Griffin Asset Management Inc.

Griffin Asset Management Inc. grew its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,925 shares of the software maker’s stock after acquiring an additional 275 shares during the quarter. Griffin Asset Management Inc.’s holdings in Shopify were worth $1,693,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SHOP. Parsons Capital Management Inc. RI raised its holdings in Shopify by 1,019.1% in the fourth quarter. Parsons Capital Management Inc. RI now owns 43,925 shares of the software maker’s stock valued at $4,671,000 after buying an additional 40,000 shares during the period. Mount Yale Investment Advisors LLC acquired a new stake in shares of Shopify in the fourth quarter worth $287,000. Pacer Advisors Inc. raised its stake in shares of Shopify by 2.7% in the 4th quarter. Pacer Advisors Inc. now owns 10,560 shares of the software maker’s stock valued at $1,123,000 after acquiring an additional 274 shares during the period. Blue Trust Inc. lifted its holdings in shares of Shopify by 54.9% during the 4th quarter. Blue Trust Inc. now owns 8,468 shares of the software maker’s stock valued at $900,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC boosted its position in Shopify by 28.4% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 7,488 shares of the software maker’s stock worth $796,000 after purchasing an additional 1,658 shares during the period. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SHOP has been the topic of several research reports. DZ Bank cut Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Royal Bank of Canada reissued an “outperform” rating and set a $130.00 price target on shares of Shopify in a research report on Wednesday, January 22nd. 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 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. Finally, Robert W. Baird raised their price target on shares of Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.32.

Shopify Stock Performance

Shares of NYSE SHOP opened at $107.41 on Tuesday. Shopify Inc. has a 12-month low of $48.56 and a 12-month 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. The company has a market cap of $138.78 billion, a PE ratio of 100.38, a P/E/G ratio of 2.24 and a beta of 2.46. The stock has a 50 day simple moving average of $109.37 and a 200-day simple moving average of $87.22.

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.