Shopify Inc. (NYSE:SHOP) Shares Acquired by Brighton Jones LLC

Brighton Jones LLC increased its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.8% during the fourth quarter, Holdings Channel reports. The fund owned 21,176 shares of the software maker’s stock after acquiring an additional 584 shares during the quarter. Brighton Jones LLC’s holdings in Shopify were worth $2,252,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group lifted its stake 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 worth $26,000 after purchasing an additional 200 shares during the period. Brooklyn Investment Group purchased a new position in Shopify during the third quarter worth about $33,000. Rosenberg Matthew Hamilton lifted its position in Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after buying an additional 133 shares during the period. Truvestments Capital LLC purchased a new stake in Shopify in the 3rd quarter valued at about $45,000. Finally, GAMMA Investing LLC increased its stake 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 acquiring an additional 253 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SHOP shares. Citigroup raised 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. The Goldman Sachs Group lifted their price target on shares of Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Piper Sandler upped their price objective on Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. JMP Securities reiterated a “market outperform” rating and issued a $120.00 target price on shares of Shopify in a report on Thursday, December 12th. Finally, Wells Fargo & Company upped their price target on Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $100.31.

Shopify Price Performance

Shares of NYSE:SHOP opened at $107.74 on Friday. The company has a market cap of $139.22 billion, a PE ratio of 100.70, a P/E/G ratio of 2.24 and a beta of 2.46. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $120.72. The firm has a 50-day simple moving average of $109.38 and a 200 day simple moving average of $86.64. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09.

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.