Pure Financial Advisors LLC Takes $259,000 Position in Shopify Inc. (NYSE:SHOP)

Pure Financial Advisors LLC acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,436 shares of the software maker’s stock, valued at approximately $259,000.

A number of other institutional investors also recently bought and sold shares of the stock. Swiss National Bank boosted its position in Shopify by 0.9% in the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock valued at $293,507,000 after buying an additional 33,300 shares during the last quarter. Watts Gwilliam & Co. LLC boosted its holdings in shares of Shopify by 53.0% in the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after acquiring an additional 4,641 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Shopify by 29.3% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock valued at $27,409,000 after acquiring an additional 77,500 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of Shopify by 26.4% in the third quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock worth $2,693,000 after acquiring an additional 7,027 shares during the period. Finally, Nations Financial Group Inc. IA ADV raised its holdings in shares of Shopify by 4.6% during the third quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker’s stock worth $381,000 after purchasing an additional 209 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Up 0.1 %

Shares of SHOP opened at $106.39 on Thursday. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $120.72. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The stock has a fifty day simple moving average of $109.62 and a two-hundred day simple moving average of $86.37. The company has a market capitalization of $137.47 billion, a PE ratio of 99.43, a price-to-earnings-growth ratio of 2.17 and a beta of 2.46.

Wall Street Analyst Weigh In

Several equities research analysts have commented 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 report on Wednesday, November 13th. Atb Cap Markets lowered Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Cantor Fitzgerald reissued a “neutral” rating and issued a $70.00 price target on shares of Shopify in a report on Monday, October 7th. Piper Sandler raised their price objective on shares of Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Finally, DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.