Huntington National Bank Has $24.62 Million Stock Holdings in Shopify Inc. (NYSE:SHOP)

Huntington National Bank decreased its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 307,177 shares of the software maker’s stock after selling 1,100 shares during the period. Huntington National Bank’s holdings in Shopify were worth $24,617,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in SHOP. Moser Wealth Advisors LLC raised its stake in Shopify by 1.4% during the third 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 during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in Shopify by 7.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock worth $159,000 after purchasing an additional 129 shares during the period. Rosenberg Matthew Hamilton grew 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 during the period. CVA Family Office LLC grew its holdings in Shopify by 11.8% in the third 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 during the period. Finally, Twin Peaks Wealth Advisors LLC grew its holdings in Shopify by 3.5% in the third 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 during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on SHOP shares. KeyCorp raised their price target on shares of Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday. Truist Financial lifted their price objective on shares of Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday. Redburn Atlantic upgraded shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price objective for the company in a report on Tuesday, September 17th. The Goldman Sachs Group lifted their price objective on shares of Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company lifted their price objective on shares of Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.95.

Shopify Price Performance

NYSE SHOP opened at $115.13 on Thursday. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $115.62. The stock has a market cap of $148.56 billion, a price-to-earnings ratio of 107.60, a PEG ratio of 3.64 and a beta of 2.36. The company’s 50 day moving average is $79.47 and its two-hundred day moving average is $70.18. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, November 12th. The software maker reported $0.27 EPS for the quarter, topping the consensus estimate of $0.18 by $0.09. Shopify had a net margin of 16.84% and a return on equity of 11.94%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.11 billion. As a group, research analysts anticipate that Shopify Inc. will post 0.76 earnings per share for the current year.

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.