Shopify Inc. (NYSE:SHOP) Shares Bought by Wrapmanager Inc.

Wrapmanager Inc. grew its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 14.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,574 shares of the software maker’s stock after acquiring an additional 1,672 shares during the period. Wrapmanager Inc.’s holdings in Shopify were worth $1,088,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Moser Wealth Advisors LLC raised its position in shares of Shopify by 1.4% during the 3rd quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock worth $755,000 after buying an additional 128 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of Shopify by 7.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock worth $159,000 after buying an additional 129 shares in the last quarter. Rosenberg Matthew Hamilton raised its position in shares of Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after buying an additional 133 shares in the last quarter. CVA Family Office LLC raised its holdings in shares of Shopify by 11.8% in the 3rd quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock worth $109,000 after purchasing an additional 143 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC raised its holdings in shares of Shopify by 3.5% in the 3rd quarter. Twin Peaks Wealth Advisors LLC now owns 4,282 shares of the software maker’s stock worth $343,000 after purchasing an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SHOP. Morgan Stanley boosted their price target on shares of Shopify from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Royal Bank of Canada boosted their price target on shares of Shopify from $100.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Wedbush restated a “neutral” rating and set a $115.00 price target (up previously from $72.00) on shares of Shopify in a report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Benchmark reaffirmed a “hold” rating on shares of Shopify in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.95.

Shopify Trading Down 2.4 %

SHOP stock opened at $105.90 on Tuesday. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $115.62. The company’s 50-day simple moving average is $82.73 and its 200 day simple moving average is $71.27. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.10 and a current ratio of 7.10. The company has a market capitalization of $136.65 billion, a PE ratio of 98.97, a price-to-earnings-growth ratio of 3.45 and a beta of 2.36.

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.