Harbor Investment Advisory LLC Purchases 238 Shares of Shopify Inc. (NYSE:SHOP)

Harbor Investment Advisory LLC grew its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,386 shares of the software maker’s stock after acquiring an additional 238 shares during the period. Harbor Investment Advisory LLC’s holdings in Shopify were worth $466,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SHOP. EverSource Wealth Advisors LLC raised its holdings in Shopify by 23.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,020 shares of the software maker’s stock worth $185,000 after purchasing an additional 581 shares in the last quarter. DRW Securities LLC purchased a new position in shares of Shopify during the 2nd quarter worth approximately $301,000. Evergreen Capital Management LLC raised its position in shares of Shopify by 12.9% in the 2nd quarter. Evergreen Capital Management LLC now owns 10,508 shares of the software maker’s stock worth $694,000 after acquiring an additional 1,201 shares in the last quarter. K2 Principal Fund L.P. purchased a new position in shares of Shopify in the 2nd quarter valued at approximately $727,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Shopify by 13.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,568,264 shares of the software maker’s stock valued at $169,750,000 after purchasing an additional 299,184 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SHOP shares. Canaccord Genuity Group raised their price objective on Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Mizuho lifted their price target on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Piper Sandler upped their price objective on shares of Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Truist Financial raised their target price on shares of Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, November 13th. Finally, Scotiabank boosted their price target on Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 24th. 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $100.31.

Shopify Price Performance

Shares of Shopify stock opened at $106.44 on Wednesday. The stock’s fifty day moving average is $109.65 and its 200 day moving average is $86.09. Shopify Inc. has a one year low of $48.56 and a one year high of $120.72. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The stock has a market cap of $137.54 billion, a P/E ratio of 99.48, a P/E/G ratio of 2.17 and a beta of 2.46.

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.