Fulton Bank N.A. Buys Shares of 2,690 Shopify Inc. (NYSE:SHOP)

Fulton Bank N.A. acquired a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,690 shares of the software maker’s stock, valued at approximately $286,000.

A number of other institutional investors have also recently made changes to their positions in the business. Swiss National Bank raised its stake in Shopify by 0.9% in the 3rd quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock worth $293,507,000 after acquiring an additional 33,300 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of Shopify by 29.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock valued at $27,409,000 after acquiring an additional 77,500 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in Shopify by 26.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock worth $2,693,000 after buying an additional 7,027 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its stake in Shopify by 4.6% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker’s stock worth $381,000 after buying an additional 209 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Shopify during the 3rd quarter worth approximately $33,676,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Down 3.5 %

Shopify stock opened at $103.91 on Friday. The company’s 50 day simple moving average is $107.35 and its 200 day simple moving average is $84.27. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $120.72. The firm has a market capitalization of $134.26 billion, a price-to-earnings ratio of 97.11, a PEG ratio of 2.98 and a beta of 2.46. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SHOP. Wells Fargo & Company upped their price target on Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and upped their price target for the stock from $110.00 to $140.00 in a research note on Friday, December 6th. Truist Financial increased their price objective on Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, November 13th. Mizuho increased their target price on Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Finally, Atb Cap Markets lowered Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Shopify currently has an average rating of “Moderate Buy” and an average target price of $100.31.

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.