McGlone Suttner Wealth Management Inc. Acquires Shares of 2,270 Shopify Inc. (NYSE:SHOP)

McGlone Suttner Wealth Management Inc. acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,270 shares of the software maker’s stock, valued at approximately $241,000.

A number of other large investors also recently modified their holdings of the company. Oliver Lagore Vanvalin Investment Group grew its position in shares of 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 last quarter. Brooklyn Investment Group purchased a new position in shares of Shopify in the 3rd quarter valued at $33,000. Rosenberg Matthew Hamilton grew its position 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 buying an additional 133 shares during the last quarter. Truvestments Capital LLC acquired a new stake in Shopify during the 3rd quarter worth $45,000. Finally, GAMMA Investing LLC boosted its stake in Shopify by 73.5% during the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock worth $48,000 after purchasing an additional 253 shares during the period. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Performance

Shares of NYSE SHOP opened at $107.74 on Friday. The company has a 50-day simple moving average of $109.38 and a 200-day simple moving average of $86.64. 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 12 month low of $48.56 and a 12 month high of $120.72. The company has a market cap of $139.22 billion, a PE ratio of 100.70, a price-to-earnings-growth ratio of 2.24 and a beta of 2.46.

Analysts Set New Price Targets

A number of analysts recently weighed in on SHOP shares. JMP Securities reiterated a “market outperform” rating and set a $120.00 price target on shares of Shopify in a research note on Thursday, December 12th. Wells Fargo & Company increased their price target on shares of Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. New Street Research initiated coverage on shares of Shopify in a research note on Friday, January 10th. They set a “neutral” rating and a $115.00 price target for the company. Barclays raised their target price on shares of Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Finally, KeyCorp raised their target price on shares of Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $100.31.

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.