Triasima Portfolio Management inc. Takes $8.24 Million Position in Shopify Inc. (NYSE:SHOP)

Triasima Portfolio Management inc. bought a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 77,445 shares of the software maker’s stock, valued at approximately $8,238,000. Shopify comprises 1.6% of Triasima Portfolio Management inc.’s investment portfolio, making the stock its 18th largest position.

Several other large investors have also recently made changes to their positions in the business. Golden State Wealth Management LLC purchased a new position in Shopify in the 4th quarter worth approximately $163,000. Tobam raised its holdings in Shopify by 392.1% in the 4th quarter. Tobam now owns 14,782 shares of the software maker’s stock worth $1,572,000 after acquiring an additional 11,778 shares during the last quarter. Strategic Financial Concepts LLC raised its holdings in Shopify by 770.5% in the 4th quarter. Strategic Financial Concepts LLC now owns 24,139 shares of the software maker’s stock worth $2,567,000 after acquiring an additional 21,366 shares during the last quarter. Adero Partners LLC purchased a new position in Shopify in the 4th quarter worth approximately $245,000. Finally, Bleakley Financial Group LLC raised its holdings in Shopify by 5.2% in the 4th quarter. Bleakley Financial Group LLC now owns 18,011 shares of the software maker’s stock worth $1,915,000 after acquiring an additional 898 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SHOP has been the subject of a number of recent analyst reports. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Oppenheimer boosted their price objective on shares of Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Scotiabank lifted their target price on shares of Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 24th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $120.00 target price on shares of Shopify in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, fifteen 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 MarketBeat, Shopify presently has an average rating of “Moderate Buy” and a consensus target price of $100.32.

Shopify Stock Down 2.6 %

SHOP opened at $118.61 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $122.81. The firm’s fifty day moving average is $110.88 and its 200 day moving average is $90.15. The stock has a market cap of $153.26 billion, a price-to-earnings ratio of 110.86, a price-to-earnings-growth ratio of 2.46 and a beta of 2.47.

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.