Cobblestone Capital Advisors LLC NY Purchases New Position in Shopify Inc (SHOP)

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Cobblestone Capital Advisors LLC NY purchased a new stake in Shopify Inc (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 20,590 shares of the software maker’s stock, valued at approximately $2,851,000.

Other institutional investors also recently modified their holdings of the company. Mackey Komara & Dankovich LLC purchased a new position in Shopify in the 4th quarter valued at about $28,000. We Are One Seven LLC acquired a new stake in Shopify in the 4th quarter valued at about $27,000. North Star Investment Management Corp. raised its holdings in Shopify by 90.9% in the 4th quarter. North Star Investment Management Corp. now owns 210 shares of the software maker’s stock valued at $29,000 after acquiring an additional 100 shares during the last quarter. Reilly Financial Advisors LLC raised its holdings in Shopify by 63.7% in the 4th quarter. Reilly Financial Advisors LLC now owns 257 shares of the software maker’s stock valued at $36,000 after acquiring an additional 100 shares during the last quarter. Finally, Strategic Wealth Partners Ltd. raised its holdings in Shopify by 306.7% in the 4th quarter. Strategic Wealth Partners Ltd. now owns 305 shares of the software maker’s stock valued at $47,000 after acquiring an additional 230 shares during the last quarter. 62.27% of the stock is currently owned by hedge funds and other institutional investors.

SHOP stock traded up $4.61 during midday trading on Thursday, hitting $167.04. The company’s stock had a trading volume of 15,856 shares, compared to its average volume of 1,115,429. The company has a quick ratio of 11.82, a current ratio of 11.82 and a debt-to-equity ratio of 0.01. Shopify Inc has a 52-week low of $112.06 and a 52-week high of $176.60. The stock has a market capitalization of $17.93 billion, a PE ratio of -396.33 and a beta of 1.42.

SHOP has been the subject of a number of recent research reports. Macquarie set a $185.00 price objective on shares of Shopify and gave the company a “buy” rating in a report on Friday, October 26th. Rosenblatt Securities set a $190.00 price target on shares of Shopify and gave the stock a “buy” rating in a report on Friday, October 26th. Zacks Investment Research restated a “buy” rating and set a $145.00 price target on shares of Shopify in a report on Thursday, November 15th. DA Davidson upgraded shares of Shopify from a “neutral” rating to a “buy” rating and set a $150.00 price target for the company in a report on Friday, December 21st. Finally, Wedbush restated an “outperform” rating and set a $177.00 price target on shares of Shopify in a report on Monday. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $166.41.

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About Shopify

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in Canada, the United States, the United Kingdom, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

See Also: Earnings Per Share

Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc (NYSE:SHOP) (TSE:SHOP).

Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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