Montrusco Bolton Investments Inc. Sells 272 Shares of Shopify Inc. (NYSE:SHOP)

Montrusco Bolton Investments Inc. trimmed its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.8% during the third quarter, Holdings Channel.com reports. The fund owned 35,111 shares of the software maker’s stock after selling 272 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in Shopify were worth $2,816,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Oliver Lagore Vanvalin Investment Group increased its holdings in Shopify by 100.0% in 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 period. Cultivar Capital Inc. bought a new position in Shopify in the 2nd quarter valued at about $33,000. Hazlett Burt & Watson Inc. acquired a new stake in shares of Shopify in the 2nd quarter valued at approximately $33,000. Rosenberg Matthew Hamilton boosted its stake in shares of Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after purchasing an additional 133 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Shopify in the 2nd quarter valued at approximately $39,000. 69.27% of the stock is owned by institutional investors.

Shopify Stock Performance

Shares of SHOP stock opened at $106.96 on Friday. 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 firm has a market capitalization of $138.02 billion, a PE ratio of 99.96, a price-to-earnings-growth ratio of 2.80 and a beta of 2.36. The firm has a fifty day simple moving average of $85.50 and a two-hundred day simple moving average of $72.15. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $115.62.

Analyst Upgrades and Downgrades

SHOP has been the topic of a number of research analyst reports. 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 research note on Tuesday, September 17th. Roth Mkm raised their price target on shares of Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Argus upgraded shares of Shopify to a “strong-buy” rating in a research note on Thursday, August 8th. Piper Sandler lifted their target price on shares of Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company lifted their target price on shares of Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $94.95.

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.