Moloney Securities Asset Management LLC Acquires 1,435 Shares of Shopify Inc. (NYSE:SHOP)

Moloney Securities Asset Management LLC boosted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,535 shares of the software maker’s stock after acquiring an additional 1,435 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in Shopify were worth $4,735,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. New Wave Wealth Advisors LLC bought a new stake in Shopify in the fourth quarter valued at about $39,000. Mather Group LLC. increased its stake in Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after acquiring an additional 184 shares during the period. Brooklyn Investment Group bought a new stake in Shopify in the third quarter valued at about $33,000. Rosenberg Matthew Hamilton grew its stake in Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after buying an additional 133 shares during the last quarter. Finally, Synergy Asset Management LLC bought a new stake in Shopify during the fourth quarter worth about $55,000. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

NYSE SHOP opened at $117.33 on Friday. 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 company has a market capitalization of $151.60 billion, a P/E ratio of 109.65, a P/E/G ratio of 2.49 and a beta of 2.47. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $122.81. The firm has a 50-day moving average price of $110.91 and a two-hundred day moving average price of $90.53.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SHOP. Canaccord Genuity Group upped their price objective on shares of Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Scotiabank upped their price objective on shares of Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $130.00 price objective on shares of Shopify in a research note on Wednesday, January 22nd. Piper Sandler upped 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, Robert W. Baird upped their price objective on shares of Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One equities research 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently 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.