Truvestments Capital LLC Buys New Shares in Shopify Inc. (NYSE:SHOP)

Truvestments Capital LLC bought a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 567 shares of the software maker’s stock, valued at approximately $45,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Moser Wealth Advisors LLC grew its holdings in Shopify by 1.4% in the third quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock valued at $755,000 after purchasing an additional 128 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in 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 buying an additional 129 shares during the period. Rosenberg Matthew Hamilton grew its stake in Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after buying an additional 133 shares during the period. CVA Family Office LLC grew its stake in Shopify by 11.8% during the third quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock worth $109,000 after buying an additional 143 shares during the period. Finally, Twin Peaks Wealth Advisors LLC grew its stake in Shopify by 3.5% during the third quarter. Twin Peaks Wealth Advisors LLC now owns 4,282 shares of the software maker’s stock worth $343,000 after buying an additional 145 shares during the period. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on SHOP. JMP Securities boosted their price objective on shares of Shopify from $80.00 to $120.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group boosted their price objective on shares of Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Loop Capital boosted their price objective on shares of Shopify from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Argus upgraded shares of Shopify to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Barclays boosted their target price on shares of Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.84.

Shopify Stock Up 0.4 %

Shares of NYSE:SHOP opened at $112.55 on Thursday. The company’s fifty day moving average is $87.75 and its two-hundred day moving average is $73.18. The stock has a market capitalization of $145.23 billion, a price-to-earnings ratio of 105.19, a price-to-earnings-growth ratio of 2.92 and a beta of 2.36. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $115.62.

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.