Diversify Wealth Management LLC Acquires 1,524 Shares of Shopify Inc. (NYSE:SHOP)

Diversify Wealth Management LLC grew its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,952 shares of the software maker’s stock after acquiring an additional 1,524 shares during the period. Diversify Wealth Management LLC’s holdings in Shopify were worth $6,736,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SHOP. Trust Co. of Vermont raised its position in Shopify by 9.9% during the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock worth $118,000 after acquiring an additional 100 shares in the last quarter. Sunbelt Securities Inc. increased its stake in shares of Shopify by 0.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock worth $1,162,000 after purchasing an additional 105 shares during the last quarter. Redhawk Wealth Advisors Inc. raised its holdings in shares of Shopify by 3.3% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock valued at $357,000 after purchasing an additional 107 shares during the period. Moser Wealth Advisors LLC lifted its stake in Shopify by 1.4% in the 3rd quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock valued at $755,000 after purchasing an additional 128 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Shopify by 7.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock worth $159,000 after purchasing an additional 129 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Down 0.2 %

Shares of Shopify stock opened at $103.25 on Monday. The firm’s 50 day moving average is $109.39 and its 200 day moving average is $85.70. The firm has a market capitalization of $133.41 billion, a PE ratio of 96.50, a price-to-earnings-growth ratio of 2.18 and a beta of 2.46. 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.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SHOP shares. Mizuho raised their price objective on Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $110.00 to $140.00 in a research report on Friday, December 6th. Oppenheimer increased their price objective on shares of Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Truist Financial raised their target price on shares of Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, November 13th. Finally, New Street Research assumed coverage on shares of Shopify in a research note on Friday, January 10th. They issued a “neutral” rating and a $115.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Shopify has a consensus rating of “Moderate Buy” and a consensus target price of $100.31.

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.