First National Corp MA ADV Purchases New Position in Shopify Inc. (NYSE:SHOP)

First National Corp MA ADV bought a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, Holdings Channel.com reports. The fund bought 2,230 shares of the software maker’s stock, valued at approximately $237,000.

A number of other hedge funds have also recently modified their holdings of the stock. Soltis Investment Advisors LLC grew its stake in Shopify by 115.5% during the 4th quarter. Soltis Investment Advisors LLC now owns 6,062 shares of the software maker’s stock worth $645,000 after buying an additional 3,249 shares during the last quarter. Quilter Plc acquired a new stake in shares of Shopify in the fourth quarter valued at approximately $214,000. Ferguson Wellman Capital Management Inc. purchased a new position in shares of Shopify during the fourth quarter worth approximately $261,000. Compass Financial Services Inc acquired a new position in shares of Shopify in the 4th quarter valued at $74,000. Finally, Newbridge Financial Services Group Inc. increased its holdings in shares of Shopify by 5.2% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 6,302 shares of the software maker’s stock valued at $670,000 after acquiring an additional 310 shares during the period. 69.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SHOP. Moffett Nathanson lifted their price objective on shares of Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Truist Financial lifted their target price on Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, November 13th. Royal Bank of Canada restated an “outperform” rating and set a $130.00 price target on shares of Shopify in a research note on Wednesday, January 22nd. Loop Capital upgraded shares of Shopify from a “hold” rating to a “buy” rating and lifted their price objective for the company from $110.00 to $140.00 in a research report on Friday, December 6th. Finally, Wedbush raised shares of Shopify from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $115.00 to $125.00 in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.74.

Shopify Stock Performance

Shopify stock opened at $117.33 on Monday. 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 stock has a fifty day moving average of $110.91 and a two-hundred day moving average of $90.72. The company has a market capitalization of $151.60 billion, a price-to-earnings ratio of 109.65, a PEG ratio of 2.49 and a beta of 2.47.

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.