Ferguson Wellman Capital Management Inc. Acquires Shares of 2,450 Shopify Inc. (NYSE:SHOP)

Ferguson Wellman Capital Management Inc. acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,450 shares of the software maker’s stock, valued at approximately $261,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SHOP. Brooklyn Investment Group acquired a new position in shares of Shopify in the third quarter valued at $33,000. Rosenberg Matthew Hamilton grew its stake in shares of Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after acquiring an additional 133 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new position in shares of Shopify in the fourth quarter valued at about $39,000. Mather Group LLC. grew its stake in shares of Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after acquiring an additional 184 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new position in shares of Shopify in the third quarter valued at about $45,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SHOP shares. Robert W. Baird upped 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. The Goldman Sachs Group upped their price target on shares of Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. New Street Research started coverage on shares of Shopify in a research note on Friday, January 10th. They issued a “neutral” rating and a $115.00 price target on the stock. Canaccord Genuity Group upped their price target on shares of Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $101.74.

Shopify Stock Performance

NYSE:SHOP opened at $119.88 on Tuesday. The company has a market capitalization of $154.89 billion, a PE ratio of 112.04, a P/E/G ratio of 2.49 and a beta of 2.47. The company has a 50 day simple moving average of $110.91 and a two-hundred day simple moving average of $90.95. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $123.41.

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.