Vision Capital Management Inc. Buys Shares of 2,000 Shopify Inc. (NYSE:SHOP)

Vision Capital Management Inc. acquired a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,000 shares of the software maker’s stock, valued at approximately $213,000.

A number of other large investors have also made changes to their positions in SHOP. Trust Co. of Vermont lifted its position in Shopify by 9.9% during the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock worth $118,000 after buying an additional 100 shares during the period. First United Bank & Trust lifted its position in 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 buying an additional 100 shares during the period. Sunbelt Securities Inc. lifted its position in Shopify by 0.7% during the third quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock worth $1,162,000 after buying an additional 105 shares during the period. Redhawk Wealth Advisors Inc. lifted its position in Shopify by 3.3% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock worth $357,000 after buying an additional 107 shares during the period. Finally, Moser Wealth Advisors LLC lifted its position in Shopify by 1.4% during the third quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock worth $755,000 after buying an additional 128 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SHOP. Atb Cap Markets downgraded Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Piper Sandler increased their target price on Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Moffett Nathanson raised their price objective on Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. DZ Bank downgraded Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $130.00 price objective on shares of Shopify in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $100.32.

Shopify Price Performance

Shares of SHOP opened at $121.89 on Thursday. The firm has a market cap of $157.49 billion, a price-to-earnings ratio of 113.91, a PEG ratio of 2.46 and a beta of 2.47. The stock has a 50 day moving average of $110.57 and a 200-day moving average of $89.73. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $122.00.

About Shopify

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.