Montrusco Bolton Investments Inc. Has $3.63 Million Stock Position in Shopify Inc. (NYSE:SHOP)

Montrusco Bolton Investments Inc. lowered its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,159 shares of the software maker’s stock after selling 952 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in Shopify were worth $3,634,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Trust Co. of Vermont grew its stake in Shopify by 9.9% in the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after buying an additional 100 shares during the last quarter. First United Bank & Trust grew its position in shares of Shopify by 2.2% in the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock valued at $488,000 after purchasing an additional 100 shares during the last quarter. Sunbelt Securities Inc. lifted its position in shares of Shopify by 0.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock worth $1,162,000 after purchasing an additional 105 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its position in shares of Shopify by 3.3% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock worth $357,000 after purchasing an additional 107 shares during the last quarter. Finally, Moser Wealth Advisors LLC boosted its stake in Shopify by 1.4% during the 3rd quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock valued at $755,000 after purchasing an additional 128 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

SHOP has been the subject of several research reports. Piper Sandler increased their price objective on Shopify from $67.00 to $94.00 and gave the company a “neutral” 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. Moffett Nathanson boosted their price objective on shares of Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Scotiabank increased their target price on shares of Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, October 24th. Finally, Barclays boosted their price target on Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.32.

Shopify Trading Up 9.3 %

Shares of NYSE SHOP opened at $117.35 on Wednesday. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $120.72. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average of $109.65 and a two-hundred day moving average of $87.89. The company has a market cap of $151.63 billion, a PE ratio of 109.67, a P/E/G ratio of 2.24 and a beta of 2.46.

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.