GFS Advisors LLC Takes Position in Shopify Inc. (NYSE:SHOP)

GFS Advisors LLC acquired a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,077 shares of the software maker’s stock, valued at approximately $327,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new stake in shares of Shopify in the 3rd quarter worth approximately $33,000. Rosenberg Matthew Hamilton raised its position in Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares during the period. New Wave Wealth Advisors LLC bought a new stake in Shopify in the fourth quarter worth $39,000. Truvestments Capital LLC purchased a new stake in Shopify during the third quarter valued at about $45,000. Finally, GAMMA Investing LLC grew its stake in shares of Shopify by 73.5% during the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after buying an additional 253 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SHOP has been the subject of several analyst reports. Robert W. Baird increased their target price on Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. KeyCorp increased their price objective on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $130.00 price target on shares of Shopify in a report on Wednesday, January 22nd. Scotiabank raised their price target on shares of Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, October 24th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $120.00 price objective on shares of Shopify in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $100.32.

Shopify Stock Performance

Shares of Shopify stock opened at $116.70 on Friday. The company has a 50 day moving average price of $110.16 and a 200 day moving average price of $88.30. The firm has a market capitalization of $150.79 billion, a P/E ratio of 109.07, a PEG ratio of 2.45 and a beta of 2.46. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $122.00. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09.

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.