Legacy Capital Wealth Partners LLC Takes $260,000 Position in Shopify Inc. (NYSE:SHOP)

Legacy Capital Wealth Partners LLC acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,248 shares of the software maker’s stock, valued at approximately $260,000.

Several other hedge funds have also bought and sold shares of SHOP. Oliver Lagore Vanvalin Investment Group grew its position in 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 purchasing an additional 200 shares during the period. Cultivar Capital Inc. acquired a new stake in Shopify in the 2nd quarter valued at $33,000. Hazlett Burt & Watson Inc. acquired a new stake in Shopify in the 2nd quarter valued at $33,000. Rosenberg Matthew Hamilton grew its position in 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 purchasing an additional 133 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Shopify in the 2nd quarter valued at $39,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. UBS Group lifted their price objective on shares of Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Benchmark reaffirmed a “hold” rating on shares of Shopify in a report on Tuesday, August 6th. Roth Mkm lifted their price objective on shares of Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Piper Sandler reaffirmed a “neutral” rating and set a $67.00 price objective on shares of Shopify in a report on Thursday, August 29th. Finally, Scotiabank lifted their price objective on shares of Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $81.03.

Shopify Stock Up 3.3 %

Shares of NYSE SHOP opened at $89.99 on Tuesday. Shopify Inc. has a one year low of $48.56 and a one year high of $92.16. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32. The firm’s 50 day simple moving average is $78.41 and its two-hundred day simple moving average is $69.79. The stock has a market capitalization of $116.12 billion, a P/E ratio of 91.83, a PEG ratio of 2.91 and a beta of 2.36.

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.