2,000 Shares in Shopify Inc. (NYSE:SHOP) Purchased by Brandywine Oak Private Wealth LLC

Brandywine Oak Private Wealth LLC purchased a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 2,000 shares of the software maker’s stock, valued at approximately $213,000.

Other hedge funds have also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in shares of Shopify in the third quarter valued at approximately $33,000. Rosenberg Matthew Hamilton grew its holdings in Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after buying an additional 133 shares in the last quarter. New Wave Wealth Advisors LLC bought a new position in Shopify during the 4th quarter worth $39,000. Mather Group LLC. lifted its holdings in shares of Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after buying an additional 184 shares in the last quarter. Finally, Truvestments Capital LLC bought a new stake in shares of Shopify in the third quarter valued at about $45,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SHOP shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $130.00 price target on shares of Shopify in a research report on Wednesday, January 22nd. Robert W. Baird lifted their price objective on Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. New Street Research initiated coverage on Shopify in a report on Friday, January 10th. They set a “neutral” rating and a $115.00 target price on the stock. Piper Sandler raised their price target on Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Finally, Truist Financial upped their price objective on shares of Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $100.32.

Shopify Stock Up 2.3 %

SHOP stock opened at $121.89 on Thursday. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $122.00. The company has a market capitalization of $157.49 billion, a price-to-earnings ratio of 113.91, a price-to-earnings-growth ratio of 2.46 and a beta of 2.47. The business’s 50 day moving average price is $110.57 and its two-hundred day moving average price is $89.73. 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 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.