Redhawk Wealth Advisors Inc. Has $357,000 Holdings in Shopify Inc. (NYSE:SHOP)

Redhawk Wealth Advisors Inc. boosted its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,358 shares of the software maker’s stock after purchasing an additional 107 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in Shopify were worth $357,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SHOP. Swiss National Bank increased its stake in shares of Shopify by 0.9% in the 3rd quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock valued at $293,507,000 after acquiring an additional 33,300 shares during the last quarter. Watts Gwilliam & Co. LLC boosted its stake in Shopify by 53.0% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock worth $1,431,000 after acquiring an additional 4,641 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in Shopify by 29.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock valued at $27,409,000 after purchasing an additional 77,500 shares during the period. Oppenheimer & Co. Inc. increased its stake in Shopify by 26.4% in the third quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock valued at $2,693,000 after purchasing an additional 7,027 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV raised its holdings in Shopify by 4.6% in the third quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker’s stock worth $381,000 after purchasing an additional 209 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

NYSE:SHOP opened at $103.47 on Friday. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $120.72. The firm has a market capitalization of $133.70 billion, a price-to-earnings ratio of 96.71, a P/E/G ratio of 2.18 and a beta of 2.46. The stock’s 50 day moving average price is $108.71 and its two-hundred day moving average price is $85.17. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09.

Wall Street Analyst Weigh In

SHOP has been the subject of several research analyst reports. Moffett Nathanson boosted their price target on shares of Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. The Goldman Sachs Group lifted their target price on Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. DZ Bank downgraded Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Piper Sandler raised their price target on Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Finally, New Street Research began coverage on Shopify in a research report on Friday, January 10th. They issued a “neutral” rating and a $115.00 price objective for the company. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $100.31.

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.