Brown Lisle Cummings Inc. Buys 950 Shares of Shopify Inc. (NYSE:SHOP)

Brown Lisle Cummings Inc. lifted its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 13.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,220 shares of the software maker’s stock after buying an additional 950 shares during the quarter. Brown Lisle Cummings Inc.’s holdings in Shopify were worth $874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of SHOP. Brooklyn Investment Group bought a new position in shares of Shopify in the 3rd quarter worth approximately $33,000. Rosenberg Matthew Hamilton raised its holdings in Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares in the last quarter. New Wave Wealth Advisors LLC bought a new position in Shopify in the fourth quarter worth $39,000. Truvestments Capital LLC purchased a new position in Shopify during the third quarter valued at $45,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Shopify by 73.5% during the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after buying an additional 253 shares in the last quarter. 69.27% of the stock is owned by institutional investors.

Shopify Trading Down 2.1 %

Shares of SHOP opened at $114.38 on Tuesday. The firm has a market cap of $147.79 billion, a P/E ratio of 106.90, a price-to-earnings-growth ratio of 2.46 and a beta of 2.47. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $122.00. The company has a 50 day simple moving average of $110.36 and a two-hundred day simple moving average of $88.97.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SHOP shares. Canaccord Genuity Group lifted their price target on shares of Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Robert W. Baird lifted their target price on shares of Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Oppenheimer upped their price target on Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Piper Sandler lifted their price objective on Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Finally, Atb Cap Markets cut Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $100.32.

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.