OneDigital Investment Advisors LLC Acquires 2,191 Shares of Shopify Inc. (NYSE:SHOP)

OneDigital Investment Advisors LLC boosted its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 12.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,370 shares of the software maker’s stock after acquiring an additional 2,191 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Shopify were worth $1,552,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Nations Financial Group Inc. IA ADV raised its stake in shares of Shopify by 4.6% during the third quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker’s stock valued at $381,000 after acquiring an additional 209 shares in the last quarter. Silvercrest Asset Management Group LLC raised its position in Shopify by 735.0% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 52,928 shares of the software maker’s stock valued at $4,084,000 after purchasing an additional 46,589 shares in the last quarter. Baker Avenue Asset Management LP lifted its holdings in shares of Shopify by 10.9% in the 3rd quarter. Baker Avenue Asset Management LP now owns 217,000 shares of the software maker’s stock worth $17,390,000 after buying an additional 21,265 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in shares of Shopify by 26.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock worth $2,693,000 after buying an additional 7,027 shares during the period. Finally, Atria Investments Inc grew its position in shares of Shopify by 16.8% during the 3rd quarter. Atria Investments Inc now owns 158,383 shares of the software maker’s stock worth $12,693,000 after buying an additional 22,832 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 0.5 %

SHOP stock opened at $108.49 on Monday. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $115.62. The company has a quick ratio of 7.32, a current ratio of 7.10 and a debt-to-equity ratio of 0.10. The firm has a market cap of $139.99 billion, a P/E ratio of 101.39, a PEG ratio of 3.45 and a beta of 2.36. The company’s 50-day simple moving average is $81.97 and its 200-day simple moving average is $71.03.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wells Fargo & Company lifted their price objective on Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. 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. UBS Group lifted their price objective on shares of Shopify from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Evercore ISI boosted their price objective on shares of Shopify from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, JMP Securities increased their target price on Shopify from $80.00 to $120.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.95.

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.