Atomi Financial Group Inc. boosted its holdings in shares of Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) by 39.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,555 shares of the software maker’s stock after purchasing an additional 4,411 shares during the quarter. Atomi Financial Group Inc.’s holdings in Shopify were worth $1,247,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group increased its holdings in Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. Cultivar Capital Inc. acquired a new position in shares of Shopify in the 2nd quarter worth approximately $33,000. Hazlett Burt & Watson Inc. acquired a new position in shares of Shopify in the 2nd quarter worth approximately $33,000. Private Wealth Management Group LLC grew its position in shares of Shopify by 53.3% in the 1st quarter. Private Wealth Management Group LLC now owns 518 shares of the software maker’s stock worth $40,000 after acquiring an additional 180 shares in the last quarter. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Shopify in the 1st quarter worth approximately $42,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.
Shopify Stock Performance
Shares of SHOP opened at $82.58 on Wednesday. The company’s 50 day moving average price is $72.21 and its 200 day moving average price is $68.52. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57. The company has a market capitalization of $106.42 billion, a PE ratio of -485.76, a PEG ratio of 2.65 and a beta of 2.36. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on the company. Bank of America upgraded Shopify from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $78.00 to $82.00 in a research report on Tuesday, July 16th. Wedbush reiterated a “neutral” rating and issued a $72.00 target price (up previously from $68.00) on shares of Shopify in a research report on Wednesday, August 7th. Evercore lifted their target price on Shopify from $75.00 to $80.00 in a research report on Thursday, August 8th. Roth Mkm boosted their price objective on Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Evercore ISI boosted their price objective on Shopify from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.38.
Get Our Latest Report on Shopify
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.
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