Atlanta Consulting Group Advisors LLC Takes $489,000 Position in Shopify Inc. (NYSE:SHOP)

Atlanta Consulting Group Advisors LLC acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 6,100 shares of the software maker’s stock, valued at approximately $489,000.

Several other hedge funds have also recently bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group increased its stake in Shopify by 100.0% during 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. Rosenberg Matthew Hamilton lifted its holdings in Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after buying an additional 133 shares in the last quarter. Cultivar Capital Inc. purchased a new position in Shopify in the 2nd quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. acquired a new position in shares of Shopify in the second quarter worth $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Shopify during the second quarter worth $39,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SHOP shares. Oppenheimer lifted their target price on Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Redburn Atlantic raised Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price objective for the company in a research report on Tuesday, September 17th. Loop Capital raised their target price on shares of Shopify from $80.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. KeyCorp boosted their price target on shares of Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a 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 company a “neutral” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and a consensus target price of $94.95.

Shopify Stock Down 0.5 %

SHOP opened at $108.49 on Monday. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $115.62. The business has a 50-day moving average of $81.97 and a two-hundred day moving average of $71.03. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.10 and a quick ratio of 7.32. The stock has a market capitalization of $139.99 billion, a price-to-earnings ratio of 101.39, a price-to-earnings-growth ratio of 3.45 and a beta of 2.36.

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.