RMR Wealth Builders Purchases 305 Shares of Shopify Inc. (NYSE:SHOP)

RMR Wealth Builders grew its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,846 shares of the software maker’s stock after buying an additional 305 shares during the quarter. RMR Wealth Builders’ holdings in Shopify were worth $1,153,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Oppenheimer & Co. Inc. boosted its position in Shopify by 23.3% in the second quarter. Oppenheimer & Co. Inc. now owns 26,582 shares of the software maker’s stock worth $1,756,000 after purchasing an additional 5,026 shares during the last quarter. Axxcess Wealth Management LLC boosted its holdings in shares of Shopify by 15.1% in the 2nd quarter. Axxcess Wealth Management LLC now owns 12,469 shares of the software maker’s stock worth $824,000 after buying an additional 1,633 shares during the last quarter. L & S Advisors Inc bought a new position in Shopify during the second quarter valued at about $304,000. Wealth Alliance grew its position in shares of Shopify by 26.2% during the 2nd quarter. Wealth Alliance now owns 6,972 shares of the software maker’s stock valued at $461,000 after acquiring an additional 1,448 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its stake in Shopify by 6.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 57,783 shares of the software maker’s stock valued at $3,817,000 after purchasing an additional 3,631 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SHOP. Truist Financial increased their target price on shares of Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, November 13th. Cantor Fitzgerald reiterated a “neutral” rating and set a $70.00 price objective on shares of Shopify in a research report on Monday, October 7th. Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and boosted their target price for the stock from $110.00 to $140.00 in a research report on Friday, December 6th. Mizuho upped their target price on Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Finally, JMP Securities reissued a “market outperform” rating and set a $120.00 price target on shares of Shopify in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $100.31.

Shopify Trading Up 2.7 %

Shares of SHOP stock opened at $104.31 on Thursday. 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 company has a market cap of $134.78 billion, a price-to-earnings ratio of 97.49, a PEG ratio of 2.18 and a beta of 2.46. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $120.72. The firm has a fifty day moving average price of $108.26 and a 200-day moving average price of $85.04.

Shopify Company 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.