Townsquare Capital LLC Acquires 118,961 Shares of Shopify Inc. (NYSE:SHOP)

Townsquare Capital LLC grew its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 32.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 481,447 shares of the software maker’s stock after purchasing an additional 118,961 shares during the quarter. Townsquare Capital LLC’s holdings in Shopify were worth $38,583,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in SHOP. Moser Wealth Advisors LLC grew its position in shares of Shopify by 1.4% during the 3rd quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock worth $755,000 after buying an additional 128 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its position in Shopify by 7.0% during the 3rd 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 raised its holdings in shares of 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 purchasing an additional 133 shares in the last quarter. CVA Family Office LLC boosted its stake in shares of 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 purchasing an additional 143 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC increased its holdings in Shopify by 3.5% during the third 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 during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Roth Mkm raised their price objective on Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Argus upgraded shares of Shopify to a “strong-buy” rating in a research note on Thursday, August 8th. Piper Sandler lifted their target price on shares of Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Atb Cap Markets lowered Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, DZ Bank downgraded Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. One 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.84.

Shopify Price Performance

Shopify stock opened at $112.08 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The business has a 50 day simple moving average of $87.00 and a 200-day simple moving average of $72.90. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $115.62. The stock has a market capitalization of $144.63 billion, a PE ratio of 104.75, a price-to-earnings-growth ratio of 2.92 and a beta of 2.36.

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.