Truvestments Capital LLC Invests $45,000 in Shopify Inc. (NYSE:SHOP)

Truvestments Capital LLC purchased a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 3rd quarter, Holdings Channel reports. The fund purchased 567 shares of the software maker’s stock, valued at approximately $45,000.

Several other institutional investors have also modified their holdings of SHOP. Oliver Lagore Vanvalin Investment Group grew its position 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. Cultivar Capital Inc. bought a new position in Shopify in the 2nd quarter valued at about $33,000. Hazlett Burt & Watson Inc. bought a new position in Shopify in the 2nd quarter valued at about $33,000. Rosenberg Matthew Hamilton grew its position 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 buying an additional 133 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Shopify in the 2nd quarter valued at about $39,000. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Up 0.4 %

Shares of SHOP stock opened at $112.55 on Thursday. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $115.62. 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 business’s 50 day moving average is $87.75 and its two-hundred day moving average is $73.18. The company has a market cap of $145.23 billion, a PE ratio of 105.19, a price-to-earnings-growth ratio of 2.92 and a beta of 2.36.

Wall Street Analyst Weigh In

SHOP has been the subject of several research reports. Wells Fargo & Company raised their price objective on shares of Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Benchmark restated a “hold” rating on shares of Shopify in a research report on Tuesday, August 6th. Scotiabank raised their price objective on shares of Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, October 24th. Mizuho raised their price objective 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. Finally, Roth Mkm raised their price objective on shares of Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.84.

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.