Trivest Advisors Ltd Invests $3.12 Million in Shopify Inc. $SHOP

Trivest Advisors Ltd acquired a new stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 21,000 shares of the software maker’s stock, valued at approximately $3,121,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Knights of Columbus Asset Advisors LLC bought a new position in Shopify during the third quarter worth about $4,110,000. Principal Financial Group Inc. lifted its stake in shares of Shopify by 16.3% during the 3rd quarter. Principal Financial Group Inc. now owns 450,895 shares of the software maker’s stock valued at $67,006,000 after buying an additional 63,300 shares in the last quarter. Triton Financial Group Inc bought a new position in Shopify in the 3rd quarter worth approximately $1,931,000. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in Shopify by 65.5% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 158,514 shares of the software maker’s stock worth $23,557,000 after buying an additional 62,743 shares during the period. Finally, TriaGen Wealth Management LLC purchased a new position in Shopify in the 3rd quarter valued at approximately $2,562,000. 69.27% of the stock is owned by institutional investors.

Shopify Stock Up 1.9%

NASDAQ:SHOP opened at $126.20 on Friday. The stock has a market cap of $164.29 billion, a P/E ratio of 135.70, a PEG ratio of 4.60 and a beta of 2.83. The business’s 50-day moving average price is $145.96 and its two-hundred day moving average price is $150.69. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $182.19.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Wells Fargo & Company set a $191.00 target price on Shopify and gave the stock an “overweight” rating in a research report on Thursday, February 12th. Jefferies Financial Group set a $125.00 price objective on Shopify and gave the stock a “hold” rating in a report on Monday, February 16th. Cantor Fitzgerald restated a “neutral” rating and issued a $126.00 target price (down previously from $181.00) on shares of Shopify in a research note on Thursday, February 12th. Oppenheimer reiterated an “outperform” rating on shares of Shopify in a research report on Monday, December 1st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $180.00 price target on shares of Shopify in a report on Thursday, February 12th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $162.64.

About Shopify

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.