RMR Wealth Builders Purchases 305 Shares of Shopify Inc. (NYSE:SHOP)

RMR Wealth Builders raised its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,846 shares of the software maker’s stock after acquiring an additional 305 shares during the period. RMR Wealth Builders’ holdings in Shopify were worth $1,153,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Baillie Gifford & Co. raised its holdings in Shopify by 14.7% during the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after buying an additional 8,131,160 shares during the period. FMR LLC increased its position in shares of Shopify by 16.1% during the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after purchasing an additional 5,869,795 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Shopify by 49.9% in the 2nd quarter. Mackenzie Financial Corp now owns 6,315,028 shares of the software maker’s stock valued at $417,386,000 after buying an additional 2,102,939 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of Shopify by 54.2% in the second quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock valued at $311,404,000 after buying an additional 1,657,251 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in Shopify by 28.0% during the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock worth $593,588,000 after buying an additional 1,621,981 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Performance

Shares of Shopify stock opened at $104.31 on Thursday. The firm has a market capitalization of $134.78 billion, a price-to-earnings ratio of 97.49, a PEG ratio of 2.18 and a beta of 2.46. Shopify Inc. has a one year low of $48.56 and a one year high of $120.72. The business has a 50-day simple moving average of $108.26 and a 200 day simple moving average of $85.04. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SHOP shares. Robert W. Baird boosted their price objective on shares of Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Oppenheimer increased their price target on Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Moffett Nathanson lifted their target price on shares of Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Wedbush upgraded shares of Shopify from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $115.00 to $125.00 in a research report on Monday, January 6th. Finally, Citigroup boosted their price objective on Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Shopify presently has an average rating of “Moderate Buy” and an average price target of $100.31.

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.