Smith Salley Wealth Management Purchases New Stake in Shopify Inc. (NYSE:SHOP)

Smith Salley Wealth Management purchased a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,974 shares of the software maker’s stock, valued at approximately $210,000.

Several other institutional investors also recently bought and sold shares of the business. HB Wealth Management LLC boosted its position in shares of Shopify by 27.7% in the fourth quarter. HB Wealth Management LLC now owns 11,827 shares of the software maker’s stock worth $1,258,000 after buying an additional 2,569 shares during the period. Trust Co. of Vermont boosted its holdings in Shopify by 9.9% in the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock worth $118,000 after acquiring an additional 100 shares during the period. Stonekeep Investments LLC acquired a new stake in Shopify in the fourth quarter valued at approximately $230,000. Howard Financial Services LTD. purchased a new stake in shares of Shopify during the fourth quarter valued at approximately $209,000. Finally, Arthur M. Cohen & Associates LLC increased its stake in Shopify by 1.2% during the 4th quarter. Arthur M. Cohen & Associates LLC now owns 45,074 shares of the software maker’s stock worth $4,793,000 after buying an additional 554 shares during the period. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Trading Down 0.2 %

Shares of NYSE:SHOP opened at $103.25 on Monday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $120.72. The firm has a fifty day moving average price of $109.39 and a 200 day moving average price of $85.70. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $133.41 billion, a PE ratio of 96.50, a P/E/G ratio of 2.18 and a beta of 2.46.

Analyst Ratings Changes

SHOP has been the subject of a number of analyst reports. Truist Financial upped their price objective on shares of Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday, November 13th. DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $70.00 target price on shares of Shopify in a research report on Monday, October 7th. Piper Sandler raised their price target on shares of Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Finally, Atb Cap Markets cut shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $100.31.

Shopify 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.