Norden Group LLC purchased a new stake in shares of Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 2,758 shares of the software maker’s stock, valued at approximately $213,000.
A number of other large investors have also recently added to or reduced their stakes in the business. Private Wealth Management Group LLC purchased a new stake in shares of Shopify in the 4th quarter valued at approximately $26,000. SJS Investment Consulting Inc. boosted its position in shares of Shopify by 59.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after purchasing an additional 130 shares during the period. DSM Capital Partners LLC acquired a new stake in Shopify in the 4th quarter valued at approximately $28,000. Jones Financial Companies Lllp acquired a new stake in Shopify in the 4th quarter valued at approximately $28,000. Finally, Your Advocates Ltd. LLP raised its position in Shopify by 4,344.4% in the fourth quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock valued at $31,000 after purchasing an additional 391 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.
Shopify Price Performance
Shares of SHOP opened at $64.89 on Monday. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.10. The stock’s 50 day moving average is $63.05 and its two-hundred day moving average is $72.22. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57. The firm has a market capitalization of $83.62 billion, a PE ratio of -381.71, a P/E/G ratio of 3.24 and a beta of 2.30.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on SHOP shares. Canaccord Genuity Group decreased their target price on Shopify from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Benchmark reissued a “hold” rating on shares of Shopify in a research report on Tuesday, May 7th. Citigroup lifted their price objective on shares of Shopify from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Wells Fargo & Company reduced their target price on shares of Shopify from $85.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, May 9th. Finally, The Goldman Sachs Group raised their price target on shares of Shopify from $67.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, Shopify currently has an average rating of “Moderate Buy” and an average target price of $77.03.
View Our Latest Stock Report on Shopify
Shopify Company 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.
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