Circle Wealth Management LLC Acquires 13,072 Shares of Shopify Inc. (NYSE:SHOP)

Circle Wealth Management LLC lifted its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 65.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,163 shares of the software maker’s stock after buying an additional 13,072 shares during the period. Circle Wealth Management LLC’s holdings in Shopify were worth $2,658,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group boosted its holdings in shares of Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after acquiring an additional 200 shares in the last quarter. Cultivar Capital Inc. acquired a new position in shares of Shopify in the second quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. bought a new position in Shopify in the 2nd quarter valued at approximately $33,000. Brooklyn Investment Group acquired a new position in Shopify in the 3rd quarter valued at approximately $33,000. Finally, Rosenberg Matthew Hamilton raised its stake in shares of Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after acquiring an additional 133 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of SHOP stock opened at $115.67 on Friday. The company’s 50 day moving average is $89.16 and its 200 day moving average is $73.85. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The firm has a market cap of $149.46 billion, a price-to-earnings ratio of 108.10, a PEG ratio of 2.96 and a beta of 2.36. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $116.35.

Wall Street Analyst Weigh In

A number of analysts have commented on SHOP shares. Redburn Atlantic raised shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price target on the stock in a research report on Tuesday, September 17th. Truist Financial raised their price objective on Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, November 13th. Moffett Nathanson increased their target price on Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a report on Tuesday. Citigroup boosted their price target on shares of Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.84.

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.