Paces Ferry Wealth Advisors LLC increased its holdings in Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) by 17.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,458 shares of the software maker’s stock after purchasing an additional 523 shares during the period. Paces Ferry Wealth Advisors LLC’s holdings in Shopify were worth $228,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. DSM Capital Partners LLC purchased a new stake in shares of Shopify in the fourth quarter valued at $28,000. Jones Financial Companies Lllp acquired a new position in Shopify in the fourth quarter valued at $28,000. OLD Point Trust & Financial Services N A acquired a new position in Shopify in the fourth quarter valued at $39,000. Cultivar Capital Inc. acquired a new position in Shopify in the second quarter valued at $33,000. Finally, Hazlett Burt & Watson Inc. acquired a new position in Shopify in the second quarter valued at $33,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.
Shopify Stock Up 1.0 %
NYSE:SHOP opened at $75.23 on Thursday. The firm has a market capitalization of $96.95 billion, a PE ratio of -442.53, a price-to-earnings-growth ratio of 2.39 and a beta of 2.35. The stock has a 50 day moving average of $67.86 and a 200-day moving average of $68.32. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the company. Morgan Stanley lifted their target price on Shopify from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Evercore lifted their target price on Shopify from $75.00 to $80.00 in a report on Thursday, August 8th. Truist Financial reduced their target price on Shopify from $65.00 to $55.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Benchmark reiterated a “hold” rating on shares of Shopify in a report on Tuesday, August 6th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $67.00 target price on shares of Shopify in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $77.92.
Check Out Our Latest Stock Report on SHOP
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.
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