Whalen Wealth Management Inc. Makes New $461,000 Investment in Shopify Inc. (NYSE:SHOP)

Whalen Wealth Management Inc. purchased a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 4,339 shares of the software maker’s stock, valued at approximately $461,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group lifted its holdings in Shopify by 100.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after acquiring an additional 200 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Shopify in the third quarter valued at $33,000. Rosenberg Matthew Hamilton lifted its stake in shares of Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after purchasing an additional 133 shares during the last quarter. Truvestments Capital LLC purchased a new position in shares of Shopify during the 3rd quarter worth $45,000. Finally, GAMMA Investing LLC increased its position in shares of Shopify by 73.5% during the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock worth $48,000 after purchasing an additional 253 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 topic of a number of recent analyst reports. The Goldman Sachs Group upped their target price on shares of Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Mizuho increased their price objective on shares of Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. New Street Research began coverage on Shopify in a research report on Friday, January 10th. They issued a “neutral” rating and a $115.00 target price on the stock. Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and raised their price target for the stock from $110.00 to $140.00 in a research report on Friday, December 6th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $70.00 target price on shares of Shopify in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and an average price target of $100.31.

Shopify Trading Up 0.1 %

Shares of Shopify stock opened at $106.39 on Thursday. The company has a 50-day moving average of $109.44 and a two-hundred day moving average of $86.51. The stock has a market cap of $137.47 billion, a PE ratio of 99.43, a price-to-earnings-growth ratio of 2.23 and a beta of 2.46. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $120.72.

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.