Newbridge Financial Services Group Inc. Grows Stock Holdings in Shopify Inc. (NYSE:SHOP)

Newbridge Financial Services Group Inc. lifted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,302 shares of the software maker’s stock after buying an additional 310 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Shopify were worth $670,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Moser Wealth Advisors LLC increased its holdings in shares of Shopify by 2.9% in the fourth quarter. Moser Wealth Advisors LLC now owns 9,699 shares of the software maker’s stock worth $1,031,000 after buying an additional 275 shares during the period. Stephens Inc. AR grew its position in Shopify by 0.8% during the 4th quarter. Stephens Inc. AR now owns 48,075 shares of the software maker’s stock worth $5,112,000 after acquiring an additional 404 shares during the last quarter. Howland Capital Management LLC increased its stake in Shopify by 2.0% in the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock worth $526,000 after purchasing an additional 99 shares during the period. Entropy Technologies LP bought a new stake in Shopify in the fourth quarter valued at approximately $2,550,000. Finally, Empowered Funds LLC boosted its stake in shares of Shopify by 39.7% during the fourth quarter. Empowered Funds LLC now owns 31,355 shares of the software maker’s stock valued at $3,334,000 after purchasing an additional 8,909 shares during the period. Institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on SHOP. Mizuho lifted their target price on shares of Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. New Street Research initiated coverage on shares of Shopify in a research report on Friday, January 10th. They issued a “neutral” rating and a $115.00 price objective on the stock. Canaccord Genuity Group increased their target price on shares of Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Truist Financial boosted their price target on Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, November 13th. Finally, Atb Cap Markets cut Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Shopify has an average rating of “Moderate Buy” and an average price target of $100.32.

Shopify Price Performance

SHOP opened at $117.33 on Friday. The business has a fifty day moving average of $110.91 and a 200 day moving average of $90.53. The stock has a market cap of $151.60 billion, a P/E ratio of 109.65, a PEG ratio of 2.49 and a beta of 2.47. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $122.81.

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.