RFG Advisory LLC Purchases 608 Shares of Shopify Inc. (NYSE:SHOP)

RFG Advisory LLC grew its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 7.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,706 shares of the software maker’s stock after purchasing an additional 608 shares during the quarter. RFG Advisory LLC’s holdings in Shopify were worth $926,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. McGlone Suttner Wealth Management Inc. acquired a new stake in Shopify during the 4th quarter worth $241,000. Cornerstone Wealth Management LLC boosted its position in shares of Shopify by 15.5% in the 4th quarter. Cornerstone Wealth Management LLC now owns 13,900 shares of the software maker’s stock worth $1,478,000 after purchasing an additional 1,866 shares during the last quarter. Brighton Jones LLC grew its stake in shares of Shopify by 2.8% during the fourth quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock worth $2,252,000 after purchasing an additional 584 shares during the period. Conway Capital Management Inc. increased its holdings in Shopify by 8.4% in the fourth quarter. Conway Capital Management Inc. now owns 11,676 shares of the software maker’s stock valued at $1,242,000 after purchasing an additional 900 shares during the last quarter. Finally, Montecito Bank & Trust acquired a new position in Shopify in the fourth quarter valued at about $213,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

SHOP has been the topic of a number of recent analyst reports. Moffett Nathanson lifted their price target on shares of Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Wells Fargo & Company boosted their target price on Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. New Street Research assumed coverage on shares of Shopify in a report on Friday, January 10th. They set a “neutral” rating and a $115.00 target price on the stock. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Finally, Citigroup upped their price objective on Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and an average price target of $100.32.

Shopify Stock Performance

NYSE:SHOP opened at $107.74 on Monday. The stock has a 50 day simple moving average of $109.37 and a 200 day simple moving average of $87.07. The stock has a market cap of $139.22 billion, a P/E ratio of 100.70, a PEG ratio of 2.24 and a beta of 2.46. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $120.72. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09.

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.