Mount Yale Investment Advisors LLC Purchases Shares of 2,703 Shopify Inc. (NYSE:SHOP)

Mount Yale Investment Advisors LLC acquired a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,703 shares of the software maker’s stock, valued at approximately $287,000.

Several other large investors also recently modified their holdings of SHOP. Trust Co. of Vermont raised its holdings in Shopify by 9.9% in the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after acquiring an additional 100 shares during the period. First United Bank & Trust increased its stake in shares of Shopify by 2.2% during the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock worth $488,000 after purchasing an additional 100 shares during the period. Sunbelt Securities Inc. lifted its holdings in Shopify by 0.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock worth $1,162,000 after purchasing an additional 105 shares during the last quarter. Redhawk Wealth Advisors Inc. boosted its stake in Shopify by 3.3% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock valued at $357,000 after purchasing an additional 107 shares during the period. Finally, Moser Wealth Advisors LLC grew its holdings in Shopify by 1.4% in the 3rd quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock valued at $755,000 after buying an additional 128 shares in the last quarter. 69.27% of the stock is owned by institutional investors.

Shopify Stock Performance

NYSE SHOP opened at $116.69 on Thursday. The company has a market capitalization of $150.77 billion, a price-to-earnings ratio of 109.05, a PEG ratio of 2.24 and a beta of 2.46. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $120.72. The stock has a fifty day simple moving average of $109.65 and a 200 day simple moving average of $87.89.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SHOP shares. KeyCorp boosted their target price on shares of Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Wells Fargo & Company boosted their price objective on shares of Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Wedbush raised shares of Shopify from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $115.00 to $125.00 in a report on Monday, January 6th. Barclays boosted their price target on Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Finally, DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and an average price target of $100.32.

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.