Whitaker Myers Wealth Managers LTD. Buys Shares of 4,313 Shopify Inc. (NYSE:SHOP)

Whitaker Myers Wealth Managers LTD. bought a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,313 shares of the software maker’s stock, valued at approximately $459,000.

A number of other hedge funds also recently made changes to their positions in SHOP. Mercer Global Advisors Inc. ADV raised its position in shares of Shopify by 6.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 57,783 shares of the software maker’s stock worth $3,817,000 after acquiring an additional 3,631 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of Shopify by 0.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 31,858 shares of the software maker’s stock worth $2,094,000 after acquiring an additional 218 shares during the last quarter. Ieq Capital LLC raised its position in shares of Shopify by 59.3% during the second quarter. Ieq Capital LLC now owns 37,850 shares of the software maker’s stock worth $2,500,000 after acquiring an additional 14,095 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of Shopify by 129.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 49,440 shares of the software maker’s stock worth $3,265,000 after acquiring an additional 27,878 shares during the last quarter. Finally, AE Wealth Management LLC grew its stake in Shopify by 4.9% during the second quarter. AE Wealth Management LLC now owns 48,969 shares of the software maker’s stock worth $3,234,000 after purchasing an additional 2,306 shares during the period. 69.27% of the stock is currently owned by institutional investors.

Shopify Price Performance

Shares of Shopify stock opened at $103.25 on Friday. Shopify Inc. has a one year low of $48.56 and a one year high of $120.72. The stock’s fifty day moving average is $109.39 and its 200 day moving average is $85.57. The stock has a market cap of $133.41 billion, a P/E ratio of 96.50, a P/E/G ratio of 2.18 and a beta of 2.46. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10.

Analyst Ratings Changes

SHOP has been the subject of several recent analyst reports. Mizuho raised their target price on Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Barclays raised their target price on Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Royal Bank of Canada raised their price objective on Shopify from $100.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. 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 note on Wednesday, November 13th. Finally, KeyCorp raised their price objective on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and a consensus price target 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.