Sargent Investment Group LLC Makes New $319,000 Investment in Shopify Inc. (NYSE:SHOP)

Sargent Investment Group LLC purchased a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,131 shares of the software maker’s stock, valued at approximately $319,000.

Other institutional investors also recently modified their holdings of the company. Swiss National Bank increased its holdings in shares of 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 in the last quarter. Jennison Associates LLC bought a new position in shares of Shopify in the fourth quarter valued at $132,323,000. Watts Gwilliam & Co. LLC increased its holdings in shares of Shopify by 53.0% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after buying an additional 4,641 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Shopify by 29.3% in the third 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 buying an additional 77,500 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings 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 valued at $2,693,000 after buying an additional 7,027 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Up 2.3 %

SHOP stock opened at $121.89 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $122.00. The company has a 50-day moving average of $110.57 and a two-hundred day moving average of $89.73. The stock has a market capitalization of $157.49 billion, a price-to-earnings ratio of 113.91, a price-to-earnings-growth ratio of 2.46 and a beta of 2.47.

Wall Street Analyst Weigh In

Several research analysts have issued reports on SHOP shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $130.00 price target on shares of Shopify in a report on Wednesday, January 22nd. Canaccord Genuity Group boosted their target price on shares of Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Truist Financial boosted their target price on shares of Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, November 13th. Finally, DZ Bank downgraded shares of Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.32.

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.