Wealth Alliance Purchases 563 Shares of Shopify Inc. (NYSE:SHOP)

Wealth Alliance grew its position in shares of Shopify Inc. (NYSE:SHOPFree Report) (TSE:SHOP) by 11.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,392 shares of the software maker’s stock after acquiring an additional 563 shares during the quarter. Wealth Alliance’s holdings in Shopify were worth $294,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Snowden Capital Advisors LLC raised its stake in shares of Shopify by 7.8% during the 2nd quarter. Snowden Capital Advisors LLC now owns 30,211 shares of the software maker’s stock worth $1,952,000 after purchasing an additional 2,180 shares in the last quarter. Soltis Investment Advisors LLC bought a new stake in shares of Shopify during the 2nd quarter worth approximately $222,000. Modera Wealth Management LLC bought a new stake in Shopify in the 2nd quarter valued at $215,000. Great West Life Assurance Co. Can increased its position in Shopify by 14.7% during the 2nd quarter. Great West Life Assurance Co. Can now owns 897,052 shares of the software maker’s stock worth $58,299,000 after buying an additional 114,724 shares during the period. Finally, Private Trust Co. NA increased its position in Shopify by 20.7% during the 2nd quarter. Private Trust Co. NA now owns 7,466 shares of the software maker’s stock worth $482,000 after buying an additional 1,282 shares during the period. Institutional investors and hedge funds own 60.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SHOP. Jefferies Financial Group increased their target price on Shopify from $65.00 to $80.00 and gave the stock a “hold” rating in a report on Friday, January 5th. Wells Fargo & Company raised their price objective on Shopify from $70.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Loop Capital lowered their price objective on Shopify from $62.00 to $57.00 and set a “hold” rating for the company in a research report on Monday, October 16th. Veritas Investment Research set a $52.00 target price on Shopify and gave the stock a “buy” rating in a report on Wednesday, October 25th. Finally, StockNews.com upgraded Shopify from a “sell” rating to a “hold” rating in a report on Saturday, January 27th. Three analysts have rated the stock with a sell rating, twenty have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $73.04.

Read Our Latest Research Report on SHOP

Shopify Stock Performance

NYSE:SHOP opened at $90.72 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 7.23 and a current ratio of 7.23. Shopify Inc. has a 52-week low of $39.02 and a 52-week high of $91.44. The firm has a market cap of $116.56 billion, a price-to-earnings ratio of -99.69 and a beta of 2.27. The business’s fifty day moving average is $78.42 and its 200 day moving average is $65.86.

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, 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.

See Also

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:SHOPFree Report) (TSE:SHOP).

Institutional Ownership by Quarter for Shopify (NYSE: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.