ORG Wealth Partners LLC Grows Stock Position in Shopify Inc. (NYSE:SHOP)

ORG Wealth Partners LLC raised its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 9.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of SHOP. Oliver Lagore Vanvalin Investment Group lifted its stake in Shopify by 100.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after buying an additional 200 shares in the last quarter. Hazlett Burt & Watson Inc. acquired a new stake in shares of Shopify during the second quarter valued at $33,000. Brooklyn Investment Group purchased a new stake in Shopify during the 3rd quarter worth about $33,000. Rosenberg Matthew Hamilton raised its stake in Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after purchasing an additional 133 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new stake in shares of Shopify during the 3rd quarter worth about $45,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on SHOP shares. Scotiabank upped their price objective on shares of Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, October 24th. Wedbush upgraded Shopify from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $115.00 to $125.00 in a report on Monday. Truist Financial upped their target price on Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, November 13th. DZ Bank cut Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $120.00 price target on shares of Shopify in a research note on Thursday, December 12th. One 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’s stock. Based on data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and an average target price of $100.31.

Shopify Stock Performance

Shares of NYSE SHOP traded down $5.61 during midday trading on Friday, reaching $102.03. 4,519,864 shares of the company traded hands, compared to its average volume of 5,022,641. The stock has a 50-day moving average price of $106.86 and a 200 day moving average price of $83.99. The company has a market cap of $131.83 billion, a price-to-earnings ratio of 95.36, a PEG ratio of 2.98 and a beta of 2.46. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $120.72. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10.

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.