First United Bank & Trust Acquires 100 Shares of Shopify Inc. (NYSE:SHOP)

First United Bank & Trust increased its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,590 shares of the software maker’s stock after buying an additional 100 shares during the period. First United Bank & Trust’s holdings in Shopify were worth $488,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group boosted its holdings in shares of Shopify by 100.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after acquiring an additional 200 shares during the period. Brooklyn Investment Group purchased a new stake in Shopify during the 3rd quarter worth about $33,000. Rosenberg Matthew Hamilton boosted its stake in 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 period. Truvestments Capital LLC purchased a new position in Shopify during the 3rd quarter valued at about $45,000. Finally, GAMMA Investing LLC increased its position in shares of Shopify by 73.5% during the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after buying an additional 253 shares during the period. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Performance

Shares of SHOP opened at $103.25 on Tuesday. 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 stock has a market cap of $133.41 billion, a P/E ratio of 96.50, a P/E/G ratio of 2.17 and a beta of 2.46. The business’s 50 day moving average price is $109.39 and its 200-day moving average price is $85.84. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $120.72.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SHOP. Canaccord Genuity Group raised their price objective on shares of Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. DZ Bank downgraded shares of Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Cantor Fitzgerald restated a “neutral” rating and set a $70.00 price target on shares of Shopify in a research report on Monday, October 7th. Truist Financial increased their price objective on Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada boosted their target price on Shopify from $100.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.