Fiduciary Trust Co Buys Shares of 6,844 Shopify Inc. (NYSE:SHOP)

Fiduciary Trust Co purchased a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,844 shares of the software maker’s stock, valued at approximately $548,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Moser Wealth Advisors LLC boosted its position in Shopify by 1.4% in the 3rd quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock valued at $755,000 after buying an additional 128 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Shopify by 7.0% in 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 during the period. Rosenberg Matthew Hamilton grew its stake in 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 in the last quarter. CVA Family Office LLC increased its holdings in Shopify by 11.8% during the 3rd quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock worth $109,000 after purchasing an additional 143 shares during the period. Finally, Twin Peaks Wealth Advisors LLC raised its position 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 purchasing an additional 145 shares in the last quarter. 69.27% of the stock is owned by institutional investors.

Shopify Price Performance

Shares of SHOP opened at $115.60 on Friday. The business’s 50-day moving average is $89.16 and its two-hundred day moving average is $73.96. The company has a market capitalization of $149.37 billion, a P/E ratio of 108.04, a P/E/G ratio of 2.96 and a beta of 2.36. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $116.35. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SHOP. Atb Cap Markets downgraded Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Evercore increased their target price on shares of Shopify from $75.00 to $80.00 in a report on Thursday, August 8th. Benchmark restated a “hold” rating on shares of Shopify in a report on Tuesday, August 6th. Mizuho increased their price objective on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Finally, Roth Mkm boosted their price objective on shares of Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. One 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 company’s stock. According to MarketBeat.com, the company has a consensus 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.