Shopify Inc. (NYSE:SHOP) Position Raised by Trust Co. of Vermont

Trust Co. of Vermont raised its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 9.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,114 shares of the software maker’s stock after purchasing an additional 100 shares during the quarter. Trust Co. of Vermont’s holdings in Shopify were worth $118,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SHOP. Oliver Lagore Vanvalin Investment Group boosted 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 valued at $26,000 after purchasing an additional 200 shares in the last quarter. Brooklyn Investment Group bought a new stake in Shopify during the third quarter worth approximately $33,000. Rosenberg Matthew Hamilton grew its position 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 buying an additional 133 shares during the last quarter. Truvestments Capital LLC bought a new position in shares of Shopify in the third quarter valued at $45,000. Finally, GAMMA Investing LLC lifted its position 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 acquiring an additional 253 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of NYSE:SHOP opened at $103.25 on Monday. The company’s 50 day simple moving average is $109.39 and its 200 day simple moving average is $85.70. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $120.72. The stock has a market capitalization of $133.41 billion, a price-to-earnings ratio of 96.50, a price-to-earnings-growth ratio of 2.18 and a beta of 2.46.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Wells Fargo & Company upped their price objective on shares of Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Robert W. Baird lifted their target price on shares of Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Royal Bank of Canada upped their price target on shares of Shopify from $100.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, Piper Sandler raised their price objective on shares of Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.