Shopify Inc. (NYSE:SHOP) Shares Purchased by Pin Oak Investment Advisors Inc.

Pin Oak Investment Advisors Inc. increased its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 33.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,185 shares of the software maker’s stock after purchasing an additional 296 shares during the quarter. Pin Oak Investment Advisors Inc.’s holdings in Shopify were worth $94,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SHOP. Oliver Lagore Vanvalin Investment Group boosted its stake in shares of Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after acquiring an additional 200 shares during the period. Brooklyn Investment Group acquired a new position in Shopify in the third quarter valued at approximately $33,000. Rosenberg Matthew Hamilton boosted its stake in 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 buying an additional 133 shares during the last quarter. Cultivar Capital Inc. acquired a new position in Shopify during the 2nd quarter worth $33,000. Finally, Hazlett Burt & Watson Inc. bought a new stake in shares of Shopify in the 2nd quarter worth $33,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SHOP has been the topic of a number of recent analyst reports. DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Cantor Fitzgerald reissued a “neutral” rating and set a $70.00 target price on shares of Shopify in a report on Monday, October 7th. Argus upgraded Shopify to a “strong-buy” rating in a report on Thursday, August 8th. Citigroup lifted their target price on shares of Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, Piper Sandler upped their price objective on shares of Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and an average target price of $95.84.

Shopify Price Performance

Shares of SHOP traded up $0.46 during mid-day trading on Thursday, reaching $112.54. 4,665,567 shares of the stock traded hands, compared to its average volume of 9,313,959. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $115.62. The company has a market cap of $145.22 billion, a price-to-earnings ratio of 105.19, a price-to-earnings-growth ratio of 2.92 and a beta of 2.36. The firm has a fifty day moving average price of $87.75 and a 200 day moving average price of $73.18. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09.

Shopify 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.