Moloney Securities Asset Management LLC Increases Stock Position in Shopify Inc. (NYSE:SHOP)

Moloney Securities Asset Management LLC grew its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,535 shares of the software maker’s stock after purchasing an additional 1,435 shares during the period. Moloney Securities Asset Management LLC’s holdings in Shopify were worth $4,735,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Shopify by 73.5% in the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock worth $48,000 after purchasing an additional 253 shares in the last quarter. Dynamic Advisor Solutions LLC increased its stake in shares of Shopify by 7.1% in the third quarter. Dynamic Advisor Solutions LLC now owns 8,778 shares of the software maker’s stock worth $703,000 after purchasing an additional 585 shares in the last quarter. CWM LLC increased its stake in shares of Shopify by 14.9% in the third quarter. CWM LLC now owns 14,097 shares of the software maker’s stock worth $1,130,000 after purchasing an additional 1,832 shares in the last quarter. Wedmont Private Capital purchased a new position in shares of Shopify in the third quarter worth about $269,000. Finally, JGP Wealth Management LLC increased its stake in shares of Shopify by 4.6% in the third quarter. JGP Wealth Management LLC now owns 5,006 shares of the software maker’s stock worth $401,000 after purchasing an additional 219 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Down 1.1 %

Shares of NYSE SHOP opened at $117.33 on Friday. 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 firm’s fifty day moving average is $110.91 and its 200 day moving average is $90.53. The company has a market cap of $151.60 billion, a price-to-earnings ratio of 109.65, a PEG ratio of 2.49 and a beta of 2.47. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $122.81.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Truist Financial lifted their target price on shares of Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, November 13th. Scotiabank raised their price objective on shares of Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, October 24th. The Goldman Sachs Group raised their price objective on shares of Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. JMP Securities restated a “market outperform” rating and issued a $120.00 price objective on shares of Shopify in a research report on Thursday, December 12th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $130.00 price objective on shares of Shopify in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and an average target price of $100.32.

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.