One Wealth Capital Management LLC Invests $1.28 Million in Shopify Inc. (NYSE:SHOP)

One Wealth Capital Management LLC purchased a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, HoldingsChannel reports. The fund purchased 12,046 shares of the software maker’s stock, valued at approximately $1,281,000. Shopify accounts for 0.6% of One Wealth Capital Management LLC’s portfolio, making the stock its 27th biggest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Swiss National Bank increased its position in shares of Shopify by 0.9% during the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock worth $293,507,000 after acquiring an additional 33,300 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in Shopify by 29.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock worth $27,409,000 after purchasing an additional 77,500 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of Shopify by 26.4% in the third quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock worth $2,693,000 after purchasing an additional 7,027 shares during the last quarter. Nations Financial Group Inc. IA ADV lifted its holdings in shares of Shopify by 4.6% in 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 purchasing an additional 209 shares in the last quarter. Finally, Wahed Invest LLC boosted its position in shares of Shopify by 18.4% during the third quarter. Wahed Invest LLC now owns 57,624 shares of the software maker’s stock valued at $4,618,000 after buying an additional 8,960 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

SHOP stock traded down $7.78 during midday trading on Tuesday, reaching $106.46. The company had a trading volume of 4,943,655 shares, compared to its average volume of 4,702,494. The firm has a 50-day moving average price of $105.18 and a 200-day moving average price of $83.37. The company has a market capitalization of $137.56 billion, a P/E ratio of 99.50, a P/E/G ratio of 2.98 and a beta of 2.46. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $120.72. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10.

Analysts Set New Price Targets

Several brokerages have weighed in on SHOP. Cantor Fitzgerald restated a “neutral” rating and set a $70.00 price objective on shares of Shopify in a research note on Monday, October 7th. Wells Fargo & Company boosted their price target on shares of Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and upped their price objective for the stock from $110.00 to $140.00 in a research report on Friday, December 6th. Citigroup lifted their target price on shares of Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $99.88.

Shopify Company 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.