Gemmer Asset Management LLC Makes New $249,000 Investment in Shopify Inc. (NYSE:SHOP)

Gemmer Asset Management LLC bought a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,340 shares of the software maker’s stock, valued at approximately $249,000.

Several other large investors also recently modified their holdings of the stock. Oliver Lagore Vanvalin Investment Group raised its stake 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 purchasing an additional 200 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Shopify in the 3rd quarter valued at approximately $33,000. Rosenberg Matthew Hamilton raised its position 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 buying an additional 133 shares in the last quarter. Truvestments Capital LLC bought a new stake in shares of Shopify during the 3rd quarter worth approximately $45,000. Finally, GAMMA Investing LLC boosted 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 acquiring an additional 253 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Down 0.2 %

Shares of NYSE SHOP opened at $103.25 on Monday. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $120.72. The stock has a market capitalization of $133.41 billion, a P/E ratio of 96.50, a P/E/G ratio of 2.18 and a beta of 2.46. The company has a 50-day moving average price of $109.39 and a 200-day moving average price of $85.70.

Analyst Ratings Changes

Several brokerages have commented on SHOP. New Street Research initiated coverage on shares of Shopify in a research report on Friday, January 10th. They set a “neutral” rating and a $115.00 price objective for the company. DZ Bank downgraded Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Barclays lifted their target price on Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and increased their target price for the stock from $110.00 to $140.00 in a report on Friday, December 6th. Finally, Mizuho lifted their price target on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $100.31.

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.