Pure Financial Advisors LLC Takes $259,000 Position in Shopify Inc. (NYSE:SHOP)

Pure Financial Advisors LLC purchased a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,436 shares of the software maker’s stock, valued at approximately $259,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Oliver Lagore Vanvalin Investment Group boosted its stake in Shopify by 100.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after buying an additional 200 shares during the period. Brooklyn Investment Group acquired a new position in shares of Shopify in the 3rd quarter worth approximately $33,000. Rosenberg Matthew Hamilton boosted 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 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. Finally, GAMMA Investing LLC raised its position in Shopify by 73.5% in the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after purchasing an additional 253 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on SHOP. Robert W. Baird raised their price target on Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Moffett Nathanson lifted their target price on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Barclays increased their price target on shares of Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Mizuho raised their price objective on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Finally, DZ Bank downgraded shares of Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $100.31.

Shopify Price Performance

Shares of NYSE:SHOP opened at $106.39 on Thursday. Shopify Inc. has a one year low of $48.56 and a one year high of $120.72. The stock has a market cap of $137.47 billion, a PE ratio of 99.43, a price-to-earnings-growth ratio of 2.17 and a beta of 2.46. The business’s fifty day moving average price is $109.62 and its two-hundred day moving average price is $86.37. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10.

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.