United Services Automobile Association lifted its position in shares of Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) by 2.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 44,798 shares of the software maker’s stock after acquiring an additional 1,067 shares during the period. United Services Automobile Association’s holdings in Shopify were worth $2,961,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Private Wealth Management Group LLC acquired a new position in Shopify during the 4th quarter worth $26,000. DSM Capital Partners LLC bought a new position in Shopify in the 4th quarter valued at about $28,000. Jones Financial Companies Lllp acquired a new position in Shopify during the 4th quarter valued at about $28,000. Your Advocates Ltd. LLP raised its position in shares of Shopify by 4,344.4% during the 4th quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock worth $31,000 after buying an additional 391 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A acquired a new stake in shares of Shopify in the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 69.27% of the company’s stock.
Shopify Stock Up 1.7 %
SHOP stock opened at $68.13 on Tuesday. The business’s 50-day simple moving average is $67.06 and its 200 day simple moving average is $68.46. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10. The company has a market cap of $87.80 billion, a PE ratio of -400.76, a price-to-earnings-growth ratio of 2.25 and a beta of 2.35. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57.
Analyst Upgrades and Downgrades
Several brokerages recently commented on SHOP. Truist Financial dropped their target price on Shopify from $65.00 to $55.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Evercore boosted their price objective on Shopify from $75.00 to $80.00 in a research note on Thursday, August 8th. Argus raised Shopify to a “strong-buy” rating in a research note on Thursday, August 8th. Benchmark reiterated a “hold” rating on shares of Shopify in a research report on Tuesday, August 6th. Finally, Citigroup reduced their price objective on shares of Shopify from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $77.11.
View Our Latest Stock Report on Shopify
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.
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