Redhawk Wealth Advisors Inc. Purchases 107 Shares of Shopify Inc. (NYSE:SHOP)

Redhawk Wealth Advisors Inc. increased its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,358 shares of the software maker’s stock after buying an additional 107 shares during the period. Redhawk Wealth Advisors Inc.’s holdings in Shopify were worth $357,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Oliver Lagore Vanvalin Investment Group increased its stake 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 purchasing an additional 200 shares during the period. Brooklyn Investment Group bought a new position in Shopify in the 3rd quarter worth approximately $33,000. Rosenberg Matthew Hamilton lifted its holdings in shares of Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after buying an additional 133 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of Shopify in the third quarter valued at approximately $45,000. Finally, GAMMA Investing LLC boosted its position in shares of Shopify by 73.5% in the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after acquiring an additional 253 shares during the period. 69.27% of the stock is owned by institutional investors.

Shopify Trading Down 0.7 %

Shares of SHOP opened at $103.47 on Friday. The firm has a market capitalization of $133.70 billion, a PE ratio of 96.71, a price-to-earnings-growth ratio of 2.18 and a beta of 2.46. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $120.72. 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’s fifty day simple moving average is $108.71 and its 200-day simple moving average is $85.17.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SHOP. Scotiabank upped their target price on shares of Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, October 24th. Barclays upped their price objective on shares of Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. JMP Securities reissued a “market outperform” rating and set a $120.00 target price on shares of Shopify in a research report on Thursday, December 12th. Wedbush upgraded Shopify from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $115.00 to $125.00 in a research note on Monday, January 6th. Finally, Canaccord Genuity Group raised their price objective on Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $100.31.

Shopify Company 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.