Shopify Inc. (NYSE:SHOP) Position Increased by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC grew its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 32.7% during the third quarter, Holdings Channel reports. The firm owned 52,584 shares of the software maker’s stock after purchasing an additional 12,958 shares during the period. Icon Wealth Advisors LLC’s holdings in Shopify were worth $4,214,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Moser Wealth Advisors LLC boosted its stake in Shopify by 1.4% during the third quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock worth $755,000 after buying an additional 128 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Shopify by 7.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock valued at $159,000 after acquiring an additional 129 shares during the period. Rosenberg Matthew Hamilton lifted its holdings in shares of 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 acquiring an additional 133 shares during the period. CVA Family Office LLC lifted its holdings in shares of Shopify by 11.8% during the third quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock valued at $109,000 after acquiring an additional 143 shares during the period. Finally, Twin Peaks Wealth Advisors LLC lifted its holdings in shares of Shopify by 3.5% during the third quarter. Twin Peaks Wealth Advisors LLC now owns 4,282 shares of the software maker’s stock valued at $343,000 after acquiring an additional 145 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Up 0.4 %

Shares of Shopify stock opened at $112.54 on Friday. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $115.62. The business’s 50 day moving average is $88.42 and its 200-day moving average is $73.45. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The stock has a market cap of $145.41 billion, a P/E ratio of 105.18, a P/E/G ratio of 2.96 and a beta of 2.36.

Wall Street Analyst Weigh In

SHOP has been the subject of a number of research analyst reports. Benchmark reaffirmed a “hold” rating on shares of Shopify in a report on Tuesday, August 6th. KeyCorp lifted their price target on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Piper Sandler lifted 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. Atb Cap Markets cut Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Loop Capital boosted their price objective on Shopify from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.84.

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.