Torch Wealth Management LLC Purchases New Position in Shopify Inc (US) (NYSE:SHOP)

Torch Wealth Management LLC bought a new position in shares of Shopify Inc (US) (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,710 shares of the software maker’s stock, valued at approximately $274,000.

Other institutional investors have also bought and sold shares of the company. Macguire Cheswick & Tuttle Investment Counsel LLC lifted its stake in shares of Shopify Inc (US) by 6.4% in the 4th quarter. Macguire Cheswick & Tuttle Investment Counsel LLC now owns 8,030 shares of the software maker’s stock valued at $811,000 after acquiring an additional 485 shares during the last quarter. Sterling Investment Advisors Ltd. bought a new position in Shopify Inc (US) during the 4th quarter valued at approximately $202,000. Commerzbank Aktiengesellschaft FI raised its position in Shopify Inc (US) by 338.6% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 81,701 shares of the software maker’s stock valued at $8,252,000 after purchasing an additional 63,075 shares during the last quarter. Pier 88 Investment Partners LLC raised its position in Shopify Inc (US) by 203.7% during the 4th quarter. Pier 88 Investment Partners LLC now owns 4,349 shares of the software maker’s stock valued at $439,000 after purchasing an additional 2,917 shares during the last quarter. Finally, Peregrine Capital Management LLC raised its position in Shopify Inc (US) by 9.5% during the 4th quarter. Peregrine Capital Management LLC now owns 276,083 shares of the software maker’s stock valued at $27,884,000 after purchasing an additional 24,048 shares during the last quarter. Institutional investors and hedge funds own 54.61% of the company’s stock.

Several research analysts have recently issued reports on SHOP shares. Piper Jaffray Companies increased their target price on Shopify Inc (US) from $110.00 to $120.00 in a research report on Tuesday, October 31st. Vetr downgraded Shopify Inc (US) from a “strong-buy” rating to a “buy” rating and set a $122.39 price target on the stock. in a research note on Tuesday, November 21st. Roth Capital increased their target price on Shopify Inc (US) from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Tuesday, November 21st. KeyCorp restated a “buy” rating and issued a $116.00 price target on shares of Shopify Inc (US) in a research note on Wednesday, November 1st. Finally, Monness Crespi & Hardt upgraded Shopify Inc (US) from a “neutral” rating to a “buy” rating and set a $125.00 price target on the stock in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $109.24.

Shares of Shopify Inc (NYSE SHOP) traded up $10.62 during mid-day trading on Wednesday, hitting $136.68. The stock had a trading volume of 2,757,403 shares, compared to its average volume of 1,461,704. The firm has a market capitalization of $13,470.00 and a P/E ratio of -278.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 10.64 and a current ratio of 10.64. Shopify Inc has a 1-year low of $54.30 and a 1-year high of $137.95.

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Shopify Inc (US) Company Profile

Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.

Institutional Ownership by Quarter for Shopify Inc (US) (NYSE:SHOP)

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