Arthur M. Cohen & Associates LLC Purchases 554 Shares of Shopify Inc. (NYSE:SHOP)

Arthur M. Cohen & Associates LLC increased its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,074 shares of the software maker’s stock after purchasing an additional 554 shares during the quarter. Shopify makes up approximately 0.9% of Arthur M. Cohen & Associates LLC’s holdings, making the stock its 22nd largest holding. Arthur M. Cohen & Associates LLC’s holdings in Shopify were worth $4,793,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Sax Wealth Advisors LLC increased its position in Shopify by 49.4% during the 4th quarter. Sax Wealth Advisors LLC now owns 4,076 shares of the software maker’s stock valued at $433,000 after purchasing an additional 1,348 shares during the period. Somerset Trust Co bought a new stake in shares of Shopify during the 4th quarter valued at about $306,000. Merit Financial Group LLC increased its position in shares of Shopify by 76.5% during the fourth quarter. Merit Financial Group LLC now owns 18,761 shares of the software maker’s stock valued at $1,995,000 after buying an additional 8,131 shares during the period. Avanza Fonder AB purchased a new position in shares of Shopify during the fourth quarter valued at about $2,648,000. Finally, Procyon Advisors LLC raised its stake in Shopify by 10.8% in the fourth quarter. Procyon Advisors LLC now owns 75,619 shares of the software maker’s stock worth $8,041,000 after buying an additional 7,375 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

Shares of NYSE:SHOP opened at $103.25 on Friday. 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 has a market capitalization of $133.41 billion, a PE ratio of 96.50, a price-to-earnings-growth ratio of 2.18 and a beta of 2.46. The firm’s 50 day moving average price is $109.06 and its 200-day moving average price is $85.30. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $120.72.

Analyst Ratings Changes

Several analysts have weighed in on SHOP shares. Atb Cap Markets cut Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Citigroup upped their price target on Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Mizuho increased their price objective on Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Canaccord Genuity Group boosted their target price on shares of Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company increased their price target on shares of Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. One 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. Based on data from MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and an average price target of $100.31.

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.