Resonant Capital Advisors LLC bought a new stake in Shopify Inc (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 550 shares of the software maker’s stock, valued at approximately $219,000.
Several other institutional investors have also recently bought and sold shares of the company. First Trust Advisors LP lifted its stake in Shopify by 15.6% in the first quarter. First Trust Advisors LP now owns 3,499 shares of the software maker’s stock valued at $723,000 after buying an additional 472 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co purchased a new stake in Shopify in the 3rd quarter valued at $7,785,000. High Falls Advisors Inc raised its position in Shopify by 13.3% in the 3rd quarter. High Falls Advisors Inc now owns 3,400 shares of the software maker’s stock valued at $1,060,000 after purchasing an additional 400 shares during the last quarter. Highland Capital Management LLC purchased a new stake in Shopify in the 3rd quarter valued at $254,000. Finally, Global Retirement Partners LLC boosted its stake in Shopify by 3,078.6% during the 3rd quarter. Global Retirement Partners LLC now owns 445 shares of the software maker’s stock worth $139,000 after purchasing an additional 431 shares during the period. 61.29% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:SHOP traded up $0.81 during trading on Thursday, reaching $447.41. The stock had a trading volume of 3,093,742 shares, compared to its average volume of 2,654,553. The stock has a market cap of $49.60 billion, a P/E ratio of -403.07 and a beta of 1.13. The business has a fifty day moving average price of $458.03 and a 200-day moving average price of $386.09. Shopify Inc has a fifty-two week low of $190.38 and a fifty-two week high of $593.89.
A number of research analysts have commented on SHOP shares. Rosenblatt Securities restated a “buy” rating and issued a $630.00 price objective (up from $481.00) on shares of Shopify in a research note on Thursday, February 13th. Raymond James reissued an “outperform” rating and set a $600.00 price target (up previously from $365.00) on shares of Shopify in a report on Wednesday, February 12th. Roth Capital boosted their price target on Shopify from to in a research report on Thursday, February 13th. Wedbush upped their price objective on Shopify from $325.00 to $475.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. They noted that the move was a valuation call. Finally, Robert W. Baird increased their price objective on Shopify from $465.00 to $590.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fourteen have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $465.11.
Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.
See Also: What is the market perform rating?
Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc (NYSE:SHOP) (TSE:SHOP).
Receive News & Ratings for Shopify Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify and related companies with MarketBeat.com's FREE daily email newsletter.