Baron Silver Stevens Financial Advisors LLC Purchases Shares of 2,189 Shopify Inc. (NYSE:SHOP)

Baron Silver Stevens Financial Advisors LLC acquired a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,189 shares of the software maker’s stock, valued at approximately $233,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SHOP. Oliver Lagore Vanvalin Investment Group increased its holdings in Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after purchasing an additional 200 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Shopify during the third quarter worth about $33,000. Rosenberg Matthew Hamilton grew its holdings in shares of 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 in the last quarter. Truvestments Capital LLC acquired a new stake in Shopify in the 3rd quarter valued at approximately $45,000. Finally, GAMMA Investing LLC boosted its position in Shopify by 73.5% during the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock worth $48,000 after acquiring an additional 253 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SHOP. Mizuho lifted their price objective on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. KeyCorp increased their price objective on shares of Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Wells Fargo & Company lifted their target price on Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Moffett Nathanson increased their price target on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Barclays upped their price objective on Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $100.31.

Shopify Trading Up 0.1 %

Shares of SHOP stock opened at $106.39 on Thursday. The stock has a market cap of $137.47 billion, a P/E ratio of 99.43, a price-to-earnings-growth ratio of 2.23 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 company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The stock has a 50 day simple moving average of $109.44 and a 200 day simple moving average of $86.51.

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.