Murchinson Ltd. Purchases Shares of 4,492 Shopify Inc. (NYSE:SHOP)

by · The Cerbat Gem

Murchinson Ltd. acquired a new position in Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,492 shares of the software maker’s stock, valued at approximately $360,000.

Other large investors also recently modified their holdings of the company. Oliver Lagore Vanvalin Investment Group boosted its holdings in Shopify by 100.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. Cultivar Capital Inc. purchased a new stake in shares of Shopify during the second quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. purchased a new position in Shopify in the second quarter worth $33,000. Brooklyn Investment Group bought a new position in Shopify in the 3rd quarter valued at $33,000. Finally, Rosenberg Matthew Hamilton grew its position in Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after buying an additional 133 shares during the period. Institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

SHOP has been the topic of a number of research analyst reports. Piper Sandler boosted their target price on shares of Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group upped their price objective on Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Truist Financial boosted their target price on Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, November 13th. Mizuho increased their price target on Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Finally, Roth Mkm upped their price objective on shares of Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.84.

View Our Latest Research Report on Shopify

Shopify Trading Down 1.0 %

NYSE:SHOP opened at $111.88 on Wednesday. The firm has a market capitalization of $144.56 billion, a P/E ratio of 104.56, a P/E/G ratio of 2.97 and a beta of 2.46. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $116.35. 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 company has a fifty day moving average of $90.45 and a 200 day moving average of $74.83.

About Shopify

(Free Report)

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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