CAP Partners LLC Boosts Stock Position in Shopify Inc. (NYSE:SHOP)

CAP Partners LLC grew its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,672 shares of the software maker’s stock after purchasing an additional 347 shares during the period. Shopify comprises approximately 1.3% of CAP Partners LLC’s holdings, making the stock its 23rd largest holding. CAP Partners LLC’s holdings in Shopify were worth $1,879,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. True Vision MN LLC bought a new stake in shares of Shopify during the fourth quarter valued at approximately $410,000. Hartline Investment Corp raised its position in Shopify by 200.7% during the 4th quarter. Hartline Investment Corp now owns 61,444 shares of the software maker’s stock valued at $6,533,000 after purchasing an additional 41,008 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of Shopify in the 4th quarter worth $89,000. Summit Trail Advisors LLC bought a new position in shares of Shopify during the 4th quarter worth $335,000. Finally, First National Corp MA ADV purchased a new position in shares of Shopify during the fourth quarter valued at $237,000. 69.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SHOP. JMP Securities reaffirmed a “market outperform” rating and issued a $120.00 price objective on shares of Shopify in a research note on Thursday, December 12th. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Truist Financial upped their target price on Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, November 13th. Mizuho lifted their price target on Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Finally, Piper Sandler upped their price objective on Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $101.74.

Shopify Stock Performance

NYSE SHOP opened at $119.88 on Tuesday. The stock has a market capitalization of $154.89 billion, a price-to-earnings ratio of 112.04, a PEG ratio of 2.49 and a beta of 2.47. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $123.41. The stock has a 50-day moving average of $110.91 and a 200 day moving average of $90.95. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09.

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.