Shopify Inc. (NYSE:SHOP) Position Boosted by ORG Wealth Partners LLC

ORG Wealth Partners LLC increased its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 9.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,410 shares of the software maker’s stock after acquiring an additional 548 shares during the quarter. ORG Wealth Partners LLC’s holdings in Shopify were worth $682,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SHOP. Sunbelt Securities Inc. boosted its stake in shares of Shopify by 0.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock valued at $1,162,000 after purchasing an additional 105 shares during the last quarter. Moser Wealth Advisors LLC raised its position in shares of Shopify by 1.4% during the 3rd quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock valued at $755,000 after acquiring an additional 128 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in shares of Shopify by 7.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock valued at $159,000 after purchasing an additional 129 shares during the period. Rosenberg Matthew Hamilton boosted its position in shares of Shopify by 41.3% in the 3rd 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 last quarter. Finally, CVA Family Office LLC grew its stake in shares of Shopify by 11.8% during the third quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock worth $109,000 after purchasing an additional 143 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Down 5.2 %

SHOP stock traded down $5.61 during mid-day trading on Friday, reaching $102.03. The company’s stock had a trading volume of 4,519,864 shares, compared to its average volume of 5,022,641. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $120.72. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The business’s 50 day moving average price is $106.86 and its 200 day moving average price is $83.99. The company has a market cap of $131.83 billion, a price-to-earnings ratio of 95.36, a price-to-earnings-growth ratio of 2.98 and a beta of 2.46.

Wall Street Analysts Forecast Growth

SHOP has been the subject of a number of analyst reports. Truist Financial boosted their price objective on shares of Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, November 13th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $70.00 price target on shares of Shopify in a research note on Monday, October 7th. JMP Securities reissued a “market outperform” rating and issued a $120.00 price objective on shares of Shopify in a research report on Thursday, December 12th. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Robert W. Baird lifted their price target on shares of Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $100.31.

Shopify Company 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.