Beaird Harris Wealth Management LLC Buys 875 Shares of Shopify Inc. (NYSE:SHOP)

Beaird Harris Wealth Management LLC grew its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 700.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,000 shares of the software maker’s stock after purchasing an additional 875 shares during the quarter. Beaird Harris Wealth Management LLC’s holdings in Shopify were worth $80,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Sunbelt Securities Inc. lifted its stake in Shopify by 0.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock valued at $1,162,000 after acquiring an additional 105 shares in the last quarter. Moser Wealth Advisors LLC raised its holdings in shares of Shopify by 1.4% in the third quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock valued at $755,000 after purchasing an additional 128 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of Shopify by 7.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock valued at $159,000 after purchasing an additional 129 shares in the last quarter. Rosenberg Matthew Hamilton boosted its holdings in Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares during the last quarter. Finally, CVA Family Office LLC grew its position in Shopify by 11.8% in the 3rd quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock worth $109,000 after purchasing an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

Shopify stock opened at $114.63 on Friday. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week 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 stock has a market cap of $148.11 billion, a P/E ratio of 107.13, a price-to-earnings-growth ratio of 3.05 and a beta of 2.46. The firm’s fifty day moving average price is $96.14 and its 200-day moving average price is $77.79.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SHOP shares. Atb Cap Markets downgraded Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Piper Sandler upped their price objective on Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Robert W. Baird lifted their target price on Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. increased their price target on shares of Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Finally, The Goldman Sachs Group lifted their price objective on shares of Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Shopify has an average rating of “Moderate Buy” and an average target price of $99.03.

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.