Hartline Investment Corp Increases Stock Holdings in Shopify Inc. (NYSE:SHOP)

Hartline Investment Corp increased its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 200.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,444 shares of the software maker’s stock after buying an additional 41,008 shares during the quarter. Shopify accounts for about 0.7% of Hartline Investment Corp’s portfolio, making the stock its 29th largest position. Hartline Investment Corp’s holdings in Shopify were worth $6,533,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SHOP. GAMMA Investing LLC grew 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 buying an additional 253 shares during the last quarter. CWM LLC grew its stake in Shopify by 14.9% during the 3rd quarter. CWM LLC now owns 14,097 shares of the software maker’s stock worth $1,130,000 after buying an additional 1,832 shares during the last quarter. Wedmont Private Capital purchased a new stake in Shopify during the 3rd quarter valued at about $269,000. CVA Family Office LLC grew its stake in Shopify by 11.8% during the 3rd quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock valued at $109,000 after purchasing an additional 143 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA grew its stake in Shopify by 61.5% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 5,250 shares of the software maker’s stock valued at $421,000 after purchasing an additional 2,000 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Price Performance

Shares of Shopify stock opened at $119.88 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The business has a 50 day simple moving average of $110.91 and a two-hundred day simple moving average of $90.95. The stock has a market capitalization of $154.89 billion, a P/E ratio of 112.04, a PEG ratio of 2.49 and a beta of 2.47. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $123.41.

Analysts Set New Price Targets

Several research firms have weighed in on SHOP. Scotiabank boosted their price target on Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, October 24th. DZ Bank downgraded Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $130.00 price target on shares of Shopify in a research note on Wednesday, January 22nd. Moffett Nathanson boosted their price target on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, KeyCorp boosted their price target on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Shopify presently has an average rating of “Moderate Buy” and a consensus price target of $101.74.

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.