Shopify Inc. (NYSE:SHOP) Shares Acquired by Choreo LLC

Choreo LLC lifted its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 25.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,770 shares of the software maker’s stock after acquiring an additional 6,868 shares during the period. Choreo LLC’s holdings in Shopify were worth $3,599,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in SHOP. Brooklyn Investment Group purchased a new position in Shopify in the third quarter valued at approximately $33,000. Rosenberg Matthew Hamilton boosted its holdings in shares of Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after buying an additional 133 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new stake in Shopify during the 4th quarter worth $39,000. Mather Group LLC. raised its stake in Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after acquiring an additional 184 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new stake in Shopify in the third quarter valued at $45,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Trading Up 2.3 %

NYSE:SHOP opened at $121.89 on Thursday. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $122.00. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The stock has a fifty day simple moving average of $110.57 and a 200-day simple moving average of $89.73. The company has a market capitalization of $157.49 billion, a PE ratio of 113.91, a price-to-earnings-growth ratio of 2.46 and a beta of 2.47.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SHOP shares. Wedbush upgraded Shopify from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $115.00 to $125.00 in a research report on Monday, January 6th. New Street Research began coverage on Shopify in a research report on Friday, January 10th. They set a “neutral” rating and a $115.00 price target on the stock. Truist Financial raised their target price on shares of Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $120.00 target price on shares of Shopify in a report on Thursday, December 12th. Finally, DZ Bank downgraded shares of Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $100.32.

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.