Carnegie Investment Counsel Buys 428 Shares of Shopify Inc. (NYSE:SHOP)

Carnegie Investment Counsel grew its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 105,746 shares of the software maker’s stock after buying an additional 428 shares during the period. Carnegie Investment Counsel’s holdings in Shopify were worth $11,244,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oliver Lagore Vanvalin Investment Group grew its stake in Shopify by 100.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after acquiring an additional 200 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Shopify during the 3rd quarter valued at $33,000. Rosenberg Matthew Hamilton increased its holdings in shares of Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares during the period. Truvestments Capital LLC purchased a new stake in shares of Shopify in the third quarter worth $45,000. Finally, GAMMA Investing LLC boosted its stake in Shopify by 73.5% during the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after buying an additional 253 shares during the period. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SHOP has been the topic of a number of research analyst reports. DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Truist Financial upped their price objective on shares of Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. Piper Sandler lifted their target price on shares of Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald reissued a “neutral” rating and issued a $70.00 price target on shares of Shopify in a report on Monday, October 7th. Finally, The Goldman Sachs Group lifted their price objective on shares of Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.31.

Shopify Stock Down 0.7 %

NYSE SHOP opened at $103.47 on Friday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $120.72. The stock has a market capitalization of $133.70 billion, a PE ratio of 96.71, a PEG ratio of 2.18 and a beta of 2.46. 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 business’s 50-day moving average is $108.71 and its 200 day moving average is $85.17.

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.