3,000 Shares in Shopify Inc. (NYSE:SHOP) Purchased by Oak Harvest Investment Services

Oak Harvest Investment Services bought a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, Holdings Channel.com reports. The firm bought 3,000 shares of the software maker’s stock, valued at approximately $319,000.

Other large investors have also recently bought and sold shares of the company. Brooklyn Investment Group bought a new stake in shares of Shopify during the 3rd quarter worth approximately $33,000. Rosenberg Matthew Hamilton lifted its stake in Shopify by 41.3% in 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. Synergy Asset Management LLC bought a new position in shares of Shopify in the 4th quarter valued at about $55,000. Truvestments Capital LLC acquired a new position in shares of Shopify during the 3rd quarter worth about $45,000. Finally, GAMMA Investing LLC raised its holdings in shares of Shopify by 73.5% in the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after purchasing an additional 253 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

SHOP has been the topic of a number of recent analyst reports. DZ Bank downgraded Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Cantor Fitzgerald restated a “neutral” rating and issued a $70.00 price target on shares of Shopify in a research note on Monday, October 7th. The Goldman Sachs Group lifted their price objective on shares of Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Moffett Nathanson increased their price objective on shares of Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Oppenheimer lifted their target price on shares of Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.32.

Shopify Trading Up 2.3 %

Shares of Shopify stock opened at $119.23 on Friday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $120.72. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $154.06 billion, a PE ratio of 111.43, a price-to-earnings-growth ratio of 2.45 and a beta of 2.46. The firm’s 50 day moving average is $109.91 and its 200 day moving average is $88.09.

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.