Private Trust Co. NA Increases Position in Shopify Inc. (NYSE:SHOP)

Private Trust Co. NA lifted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.7% during the third quarter, Holdings Channel reports. The institutional investor owned 8,854 shares of the software maker’s stock after purchasing an additional 147 shares during the period. Private Trust Co. NA’s holdings in Shopify were worth $710,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Moser Wealth Advisors LLC boosted its position in shares of Shopify by 1.4% during the third quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock worth $755,000 after acquiring an additional 128 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its position in shares of Shopify by 7.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock valued at $159,000 after purchasing an additional 129 shares in the last quarter. Rosenberg Matthew Hamilton increased its holdings in shares of Shopify by 41.3% in the third 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 stake in 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 buying an additional 143 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC grew its holdings in Shopify by 3.5% during the 3rd quarter. Twin Peaks Wealth Advisors LLC now owns 4,282 shares of the software maker’s stock valued at $343,000 after buying an additional 145 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Up 1.0 %

Shopify stock opened at $112.08 on Wednesday. The business’s 50-day simple moving average is $87.00 and its two-hundred day simple moving average is $72.90. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The company has a market cap of $144.63 billion, a PE ratio of 104.75, a PEG ratio of 2.92 and a beta of 2.36. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $115.62.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SHOP. Atb Cap Markets downgraded Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. JMP Securities lifted their price objective on shares of Shopify from $80.00 to $120.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 13th. Loop Capital upped their target price on shares of Shopify from $80.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Scotiabank increased their price target on shares of Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, October 24th. Finally, The Goldman Sachs Group boosted their price objective on Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Shopify has an average rating of “Moderate Buy” and an average target price of $95.84.

About Shopify

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.