Geneos Wealth Management Inc. Has $433,000 Stock Position in Shopify Inc. (NYSE:SHOP)

Geneos Wealth Management Inc. boosted its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 8.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,069 shares of the software maker’s stock after acquiring an additional 318 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Shopify were worth $433,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of SHOP. Brooklyn Investment Group bought a new stake in Shopify during the third quarter valued at about $33,000. Rosenberg Matthew Hamilton boosted its stake in Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after purchasing an additional 133 shares during the period. Truvestments Capital LLC acquired a new stake in Shopify in the 3rd quarter valued at approximately $45,000. GAMMA Investing LLC lifted its holdings in shares of Shopify by 73.5% during the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock worth $48,000 after buying an additional 253 shares during the last quarter. Finally, HM Payson & Co. boosted its position in shares of Shopify by 37.2% in the third quarter. HM Payson & Co. now owns 686 shares of the software maker’s stock valued at $55,000 after acquiring an additional 186 shares during the period. Institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

Shopify stock opened at $117.35 on Wednesday. The business’s 50-day simple moving average is $109.40 and its 200 day simple moving average is $87.52. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The stock has a market cap of $151.63 billion, a price-to-earnings ratio of 109.67, a P/E/G ratio of 2.24 and a beta of 2.46. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $120.72.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SHOP shares. Canaccord Genuity Group boosted their target price on shares of Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Barclays lifted their target price on Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Mizuho lifted their price objective on Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Finally, Oppenheimer boosted their price objective on Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. 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 MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and an average target price of $100.32.

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.