Private Trust Co. NA Purchases 147 Shares of Shopify Inc. (NYSE:SHOP)

Private Trust Co. NA grew its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,854 shares of the software maker’s stock after purchasing an additional 147 shares during the period. Private Trust Co. NA’s holdings in Shopify were worth $710,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. BOKF NA grew its position in Shopify by 6.3% during the first quarter. BOKF NA now owns 5,722 shares of the software maker’s stock valued at $447,000 after acquiring an additional 337 shares during the last quarter. Silvercrest Asset Management Group LLC raised its position in Shopify by 735.0% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 52,928 shares of the software maker’s stock worth $4,084,000 after purchasing an additional 46,589 shares during the period. Ancora Advisors LLC boosted its position in Shopify by 3.9% during the first quarter. Ancora Advisors LLC now owns 14,560 shares of the software maker’s stock valued at $1,124,000 after buying an additional 550 shares during the period. iA Global Asset Management Inc. grew its stake in shares of Shopify by 28.3% during the first quarter. iA Global Asset Management Inc. now owns 14,155 shares of the software maker’s stock valued at $1,092,000 after buying an additional 3,124 shares during the last quarter. Finally, Wahed Invest LLC increased its holdings in shares of Shopify by 33.9% in the first quarter. Wahed Invest LLC now owns 45,464 shares of the software maker’s stock worth $3,511,000 after buying an additional 11,520 shares during the period. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Up 1.0 %

Shares of SHOP stock opened at $112.08 on Wednesday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $115.62. The firm has a fifty day moving average price of $87.00 and a 200-day moving average price of $72.90. The company has a market cap of $144.63 billion, a price-to-earnings ratio of 104.75, a PEG ratio of 2.92 and a beta of 2.36. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10.

Analyst Ratings Changes

Several research firms recently issued reports on SHOP. The Goldman Sachs Group raised their price target on Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Argus upgraded shares of Shopify to a “strong-buy” rating in a report on Thursday, August 8th. Loop Capital raised their price target on shares of Shopify from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Robert W. Baird raised their target price on Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $95.84.

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.