Grove Bank & Trust Buys 1,087 Shares of Shopify Inc. (NYSE:SHOP)

Grove Bank & Trust lifted its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 31,522 shares of the software maker’s stock after purchasing an additional 1,087 shares during the quarter. Grove Bank & Trust’s holdings in Shopify were worth $3,352,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Trust Co. of Vermont raised its position in Shopify by 9.9% in the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after purchasing an additional 100 shares during the last quarter. Sunbelt Securities Inc. increased its stake in shares of Shopify by 0.7% in the third quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock valued at $1,162,000 after buying an additional 105 shares in the last quarter. Redhawk Wealth Advisors Inc. raised its holdings in shares of Shopify by 3.3% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock valued at $357,000 after buying an additional 107 shares during the last quarter. Moser Wealth Advisors LLC lifted its position in 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. Finally, Massmutual Trust Co. FSB ADV grew its holdings 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 worth $159,000 after acquiring an additional 129 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analysts Set New Price Targets

SHOP has been the subject of a number of research analyst reports. Royal Bank of Canada boosted their target price on shares of Shopify from $100.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group boosted their price objective on shares of Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Oppenheimer boosted their target price on Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Robert W. Baird upped their price target on Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $100.31.

Shopify Stock Down 0.2 %

SHOP stock opened at $103.25 on Friday. 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 stock has a market capitalization of $133.41 billion, a P/E ratio of 96.50, a P/E/G ratio of 2.18 and a beta of 2.46. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $120.72. The business has a 50-day moving average of $109.39 and a 200-day moving average of $85.57.

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.