Hartline Investment Corp Grows Stake in Shopify Inc. (NYSE:SHOP)

Hartline Investment Corp increased its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 200.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,444 shares of the software maker’s stock after purchasing an additional 41,008 shares during the quarter. Shopify makes up 0.7% of Hartline Investment Corp’s portfolio, making the stock its 29th biggest holding. Hartline Investment Corp’s holdings in Shopify were worth $6,533,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in shares of Shopify during the third quarter worth about $33,000. Rosenberg Matthew Hamilton grew its holdings in Shopify by 41.3% during the 3rd 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. New Wave Wealth Advisors LLC purchased a new position in Shopify during the 4th quarter valued at approximately $39,000. Mather Group LLC. grew its holdings in Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after buying an additional 184 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new position in Shopify during the 3rd quarter valued at approximately $45,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Benchmark upgraded Shopify from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a report on Monday. JMP Securities restated a “market outperform” rating and set a $120.00 price target on shares of Shopify in a report on Thursday, December 12th. Canaccord Genuity Group raised their price target on Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Piper Sandler raised their price target on Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Finally, KeyCorp lifted their target price on Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $101.74.

Shopify Trading Up 2.1 %

Shares of NYSE:SHOP opened at $119.88 on Tuesday. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $123.41. The business’s fifty day simple moving average is $110.91 and its 200-day simple moving average is $90.95. The company has a market capitalization of $154.89 billion, a PE ratio of 112.04, a P/E/G ratio of 2.49 and a beta of 2.47. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09.

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.