First Horizon Advisors Inc. Boosts Stock Holdings in Shopify Inc. (NYSE:SHOP)

by · The Markets Daily

First Horizon Advisors Inc. boosted its position in shares of Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) by 11.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,485 shares of the software maker’s stock after purchasing an additional 654 shares during the quarter. First Horizon Advisors Inc.’s holdings in Shopify were worth $520,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SHOP. Moser Wealth Advisors LLC raised its holdings in Shopify by 1.4% in the third quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock valued at $755,000 after buying an additional 128 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in Shopify by 7.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock worth $159,000 after acquiring an additional 129 shares during the period. Rosenberg Matthew Hamilton lifted its holdings in shares of Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares during the last quarter. CVA Family Office LLC boosted its holdings in shares of Shopify by 11.8% during the third quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock valued at $109,000 after acquiring an additional 143 shares during the period. Finally, Twin Peaks Wealth Advisors LLC grew its position in Shopify by 3.5% in the 3rd quarter. Twin Peaks Wealth Advisors LLC now owns 4,282 shares of the software maker’s stock worth $343,000 after purchasing an additional 145 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SHOP has been the subject of a number of recent analyst reports. Mizuho increased their target price on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. UBS Group raised their target price on shares of Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Canaccord Genuity Group boosted their price target on shares of Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Scotiabank raised their target price on Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, October 24th. Finally, Roth Mkm increased their target price on Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Shopify currently has an average rating of “Moderate Buy” and a consensus target price of $94.95.

Read Our Latest Research Report on Shopify

Shopify Price Performance

Shares of Shopify stock opened at $106.53 on Friday. The stock has a market capitalization of $137.46 billion, a price-to-earnings ratio of 99.56, a price-to-earnings-growth ratio of 3.09 and a beta of 2.36. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The company has a 50-day simple moving average of $84.81 and a two-hundred day simple moving average of $71.95. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $115.62.

Shopify Profile

(Free Report)

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.

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