DGS Capital Management LLC Acquires 460 Shares of Shopify Inc. (NYSE:SHOP)

DGS Capital Management LLC increased its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 15.0% in the third quarter, Holdings Channel.com reports. The fund owned 3,536 shares of the software maker’s stock after purchasing an additional 460 shares during the period. DGS Capital Management LLC’s holdings in Shopify were worth $283,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Logan Capital Management Inc. boosted its stake in Shopify by 9.6% during the third quarter. Logan Capital Management Inc. now owns 41,779 shares of the software maker’s stock valued at $3,348,000 after buying an additional 3,652 shares during the last quarter. Beaird Harris Wealth Management LLC raised its holdings in shares of Shopify by 700.0% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 1,000 shares of the software maker’s stock worth $80,000 after acquiring an additional 875 shares in the last quarter. Peapack Gladstone Financial Corp boosted its position in shares of Shopify by 29.3% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 9,551 shares of the software maker’s stock valued at $765,000 after acquiring an additional 2,162 shares during the last quarter. Synovus Financial Corp purchased a new position in shares of Shopify in the third quarter valued at $481,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Shopify in the third quarter valued at $615,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Price Performance

Shares of NYSE:SHOP opened at $114.63 on Friday. Shopify Inc. has a twelve month low of $48.56 and a twelve month 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 company has a market cap of $148.11 billion, a PE ratio of 107.13, a price-to-earnings-growth ratio of 3.05 and a beta of 2.46. The company’s 50 day moving average is $96.14 and its 200 day moving average is $77.79.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. JMP Securities restated a “market outperform” rating and set a $120.00 target price on shares of Shopify in a research report on Thursday. Moffett Nathanson lifted their price target on Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Cantor Fitzgerald restated a “neutral” rating and set a $70.00 price objective on shares of Shopify in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. increased their price target on Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Shopify presently has an average rating of “Moderate Buy” and an average target price of $99.03.

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.