Baltimore Washington Financial Advisors Inc. Purchases 1,900 Shares of Shopify Inc. (NYSE:SHOP)

Baltimore Washington Financial Advisors Inc. boosted its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,541 shares of the software maker’s stock after purchasing an additional 1,900 shares during the quarter. Baltimore Washington Financial Advisors Inc.’s holdings in Shopify were worth $8,989,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group bought a new stake in shares of Shopify during the 3rd quarter valued at $33,000. Rosenberg Matthew Hamilton increased its holdings in Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new stake in shares of Shopify in the fourth quarter valued at about $39,000. Truvestments Capital LLC acquired a new stake in shares of Shopify in the third quarter valued at about $45,000. Finally, 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 valued at $48,000 after buying an additional 253 shares during the period. 69.27% of the stock is currently owned by institutional investors.

Shopify Price Performance

SHOP opened at $114.38 on Tuesday. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $122.00. The stock has a market capitalization of $147.79 billion, a P/E ratio of 106.90, a PEG ratio of 2.46 and a beta of 2.47. The stock has a 50-day moving average price of $110.36 and a 200-day moving average price of $88.97. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SHOP shares. Barclays upped their target price on Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Royal Bank of Canada restated an “outperform” rating and issued a $130.00 target price on shares of Shopify in a report on Wednesday, January 22nd. DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Cantor Fitzgerald restated a “neutral” rating and issued a $70.00 target price on shares of Shopify in a report on Monday, October 7th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $120.00 price target on shares of Shopify in a research report on Thursday, December 12th. One investment 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.32.

Shopify 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.