Centaurus Financial Inc. Makes New Investment in Shopify Inc. (NYSE:SHOP)

Centaurus Financial Inc. purchased a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,296 shares of the software maker’s stock, valued at approximately $104,000.

Other hedge funds also recently modified their holdings of the company. Oliver Lagore Vanvalin Investment Group raised its holdings in Shopify by 100.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after buying an additional 200 shares in the last quarter. Rosenberg Matthew Hamilton raised its holdings in Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after buying an additional 133 shares in the last quarter. Cultivar Capital Inc. bought a new position in Shopify during the second quarter valued at about $33,000. Hazlett Burt & Watson Inc. bought a new position in Shopify during the second quarter valued at about $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Shopify during the second quarter valued at about $39,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

NYSE:SHOP opened at $112.54 on Friday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $115.62. The firm has a 50 day moving average of $88.42 and a 200-day moving average of $73.45. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $145.22 billion, a P/E ratio of 105.18, a price-to-earnings-growth ratio of 2.92 and a beta of 2.36.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SHOP shares. Barclays raised their target price on Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. Canaccord Genuity Group raised their price target on Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Wedbush reaffirmed a “neutral” rating and issued a $115.00 price target (up from $72.00) on shares of Shopify in a research report on Tuesday, November 12th. Roth Mkm raised their price target on Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Piper Sandler raised their price target on Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.84.

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.