Conway Capital Management Inc. Has $1.24 Million Holdings in Shopify Inc. (NYSE:SHOP)

Conway Capital Management Inc. boosted its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 8.4% in the 4th quarter, Holdings Channel reports. The firm owned 11,676 shares of the software maker’s stock after buying an additional 900 shares during the period. Shopify accounts for about 0.5% of Conway Capital Management Inc.’s holdings, making the stock its 24th largest position. Conway Capital Management Inc.’s holdings in Shopify were worth $1,242,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Oliver Lagore Vanvalin Investment Group lifted its position in shares of Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after buying an additional 200 shares during the last quarter. Brooklyn Investment Group acquired a new position in Shopify during the third quarter worth about $33,000. Rosenberg Matthew Hamilton lifted its holdings in shares of 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 acquiring an additional 133 shares during the last quarter. Truvestments Capital LLC acquired a new stake in shares of Shopify in the 3rd quarter valued at approximately $45,000. Finally, GAMMA Investing LLC grew its holdings in shares of Shopify by 73.5% during the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after purchasing an additional 253 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of SHOP stock opened at $106.16 on Friday. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $120.72. The firm has a market capitalization of $137.17 billion, a PE ratio of 99.21, a price-to-earnings-growth ratio of 2.24 and a beta of 2.46. The firm has a fifty day simple moving average of $109.44 and a two-hundred day simple moving average of $86.51. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SHOP. New Street Research started coverage on shares of Shopify in a research report on Friday, January 10th. They issued a “neutral” rating and a $115.00 target price on the stock. Robert W. Baird raised their price objective on Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Wedbush raised Shopify from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $115.00 to $125.00 in a report on Monday, January 6th. Atb Cap Markets lowered Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Barclays upped their price objective on Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. One 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.