Moors & Cabot Inc. Buys 2,905 Shares of Shopify Inc. (NYSE:SHOP)

Moors & Cabot Inc. lifted its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 79.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,582 shares of the software maker’s stock after purchasing an additional 2,905 shares during the period. Moors & Cabot Inc.’s holdings in Shopify were worth $527,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SHOP. Moser Wealth Advisors LLC lifted its holdings in Shopify by 1.4% during the 3rd 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 raised its position 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 worth $159,000 after acquiring an additional 129 shares during the last quarter. Rosenberg Matthew Hamilton lifted its stake 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 boosted its holdings in Shopify by 11.8% in 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 last quarter. Finally, Twin Peaks Wealth Advisors LLC boosted its holdings in Shopify by 3.5% in 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 last quarter. 69.27% of the stock is owned by institutional investors.

Shopify Price Performance

Shares of NYSE SHOP opened at $106.96 on Friday. 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 moving average of $85.50 and a 200-day moving average of $72.15. The stock has a market capitalization of $138.02 billion, a price-to-earnings ratio of 99.96, a PEG ratio of 3.09 and a beta of 2.36. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $115.62.

Analyst Ratings Changes

Several analysts have weighed in on SHOP shares. Royal Bank of Canada boosted their price objective on Shopify from $100.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Oppenheimer increased their price objective on shares of Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Citigroup lifted their target price on shares of Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, September 30th. UBS Group increased their price target on Shopify from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Finally, Mizuho lifted their price objective on Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Shopify currently has an average rating of “Moderate Buy” and an average target price of $94.95.

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.