Shopify Inc. (NYSE:SHOP) Shares Bought by Sugarloaf Wealth Management LLC

Sugarloaf Wealth Management LLC raised its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 53.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,720 shares of the software maker’s stock after purchasing an additional 600 shares during the period. Sugarloaf Wealth Management LLC’s holdings in Shopify were worth $183,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Oliver Lagore Vanvalin Investment Group lifted its holdings in shares of Shopify by 100.0% during the 2nd 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 during the last quarter. Hazlett Burt & Watson Inc. acquired a new position in shares of Shopify in the 2nd quarter valued at $33,000. Brooklyn Investment Group bought a new stake in Shopify during the 3rd quarter worth approximately $33,000. Rosenberg Matthew Hamilton boosted its position in Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after acquiring an additional 133 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new stake in shares of Shopify in the third quarter valued at about $45,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Down 3.9 %

Shares of SHOP stock traded down $4.22 during trading hours on Friday, hitting $103.42. The company had a trading volume of 6,210,375 shares, compared to its average volume of 5,315,124. The company’s fifty day moving average is $106.86 and its 200 day moving average is $83.99. 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 fifty-two week low of $48.56 and a fifty-two week high of $120.72. The stock has a market capitalization of $133.63 billion, a PE ratio of 96.66, a price-to-earnings-growth ratio of 2.98 and a beta of 2.46.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SHOP shares. DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Robert W. Baird lifted their target price on shares of Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. KeyCorp lifted their target price on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Oppenheimer increased their price target on shares of Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, Redburn Atlantic upgraded shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price target on the stock in a report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $100.31.

Shopify Company 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.