MassMutual Private Wealth & Trust FSB Boosts Position in Shopify Inc. (NYSE:SHOP)

MassMutual Private Wealth & Trust FSB lifted its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 21.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,418 shares of the software maker’s stock after purchasing an additional 435 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Shopify were worth $257,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group increased its stake in shares of Shopify by 100.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after buying an additional 200 shares during the period. Brooklyn Investment Group bought a new position in shares of Shopify during the third quarter valued at approximately $33,000. Rosenberg Matthew Hamilton increased its holdings 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. Truvestments Capital LLC purchased a new stake in Shopify during the third quarter worth $45,000. Finally, GAMMA Investing LLC increased its holdings in shares of Shopify by 73.5% in the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after acquiring an additional 253 shares during the period. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Performance

SHOP opened at $106.39 on Thursday. The firm’s fifty day simple moving average is $109.62 and its two-hundred day simple moving average is $86.37. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $120.72. The company has a market cap of $137.47 billion, a price-to-earnings ratio of 99.43, a PEG ratio of 2.17 and a beta of 2.46. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SHOP shares. Wells Fargo & Company lifted their target price on Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Royal Bank of Canada restated an “outperform” rating and set a $130.00 price objective on shares of Shopify in a report on Wednesday. The Goldman Sachs Group lifted their target price on shares of Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Wedbush upgraded shares of Shopify from a “neutral” rating to an “outperform” rating and upped their price target for the company from $115.00 to $125.00 in a research note on Monday, January 6th. Finally, Oppenheimer raised their price target on shares of Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.31.

Shopify Profile

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.