Sax Wealth Advisors LLC Buys 1,348 Shares of Shopify Inc. (NYSE:SHOP)

Sax Wealth Advisors LLC grew its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 49.4% in the fourth quarter, HoldingsChannel reports. The fund owned 4,076 shares of the software maker’s stock after acquiring an additional 1,348 shares during the period. Sax Wealth Advisors LLC’s holdings in Shopify were worth $433,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SHOP. Sunbelt Securities Inc. lifted its stake in shares of Shopify by 0.7% during the third quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock valued at $1,162,000 after acquiring an additional 105 shares during the period. Redhawk Wealth Advisors Inc. raised its holdings in Shopify by 3.3% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock worth $357,000 after purchasing 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 valued at $755,000 after purchasing an additional 128 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in shares of Shopify by 7.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock valued at $159,000 after purchasing an additional 129 shares during the last quarter. Finally, Rosenberg Matthew Hamilton grew its position in shares of Shopify by 28.8% during the 4th quarter. Rosenberg Matthew Hamilton now owns 586 shares of the software maker’s stock worth $62,000 after buying an additional 131 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on SHOP shares. Oppenheimer raised their price objective on shares of Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group raised their price target on Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Royal Bank of Canada upped their price objective on Shopify from $100.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. New Street Research began coverage on Shopify in a report on Friday, January 10th. They set a “neutral” rating and a $115.00 target price on the stock. Finally, Citigroup upped their price target on Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.31.

Shopify Stock Down 0.2 %

NYSE:SHOP opened at $103.25 on Friday. The firm 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. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $120.72. The stock’s 50 day moving average price is $109.39 and its two-hundred day moving average price is $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.