Rep. Josh Gottheimer Purchases Shares of Shopify Inc. (NYSE:SHOP)

Representative Josh Gottheimer (D-New Jersey) recently bought shares of Shopify Inc. (NYSE:SHOP). In a filing disclosed on December 05th, the Representative disclosed that they had bought between $1,001 and $15,000 in Shopify stock on November 13th. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Regeneron Pharmaceuticals (NASDAQ:REGN) on 11/29/2024.
• Purchased $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 11/27/2024.
• Sold $1,001 – $15,000 in shares of Netflix (NASDAQ:NFLX) on 11/27/2024.
• Sold $1,001 – $15,000 in shares of Vertiv (NYSE:VRT) on 11/27/2024.
• Purchased $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 11/26/2024.
• Purchased $1,001 – $15,000 in shares of Dominion Energy (NYSE:D) on 11/26/2024.
• Purchased $1,001 – $15,000 in shares of Johnson & Johnson (NYSE:JNJ) on 11/26/2024.
• Sold $1,001 – $15,000 in shares of Eaton (NYSE:ETN) on 11/25/2024.
• Sold $1,001 – $15,000 in shares of ConocoPhillips (NYSE:COP) on 11/22/2024.
• Purchased $1,001 – $15,000 in shares of Johnson & Johnson (NYSE:JNJ) on 11/22/2024.

Shopify Stock Up 3.8 %

Shares of SHOP stock opened at $118.37 on Friday. The firm’s fifty day moving average price is $92.58 and its two-hundred day moving average price is $75.91. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $120.72. The firm has a market capitalization of $152.95 billion, a P/E ratio of 110.63, a PEG ratio of 2.97 and a beta of 2.46.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SHOP shares. Canaccord Genuity Group upped their target price on Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Citigroup raised their target price on shares of Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, September 30th. The Goldman Sachs Group upped their price target on shares of Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Finally, Scotiabank lifted their price target on Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.08.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SHOP. Logan Capital Management Inc. boosted its holdings in shares of Shopify by 9.6% during the 3rd quarter. Logan Capital Management Inc. now owns 41,779 shares of the software maker’s stock valued at $3,348,000 after acquiring an additional 3,652 shares in the last quarter. Beaird Harris Wealth Management LLC raised its position in Shopify by 700.0% in the third quarter. Beaird Harris Wealth Management LLC now owns 1,000 shares of the software maker’s stock valued at $80,000 after purchasing an additional 875 shares during the last quarter. Peapack Gladstone Financial Corp boosted its stake in shares of Shopify by 29.3% during the third quarter. Peapack Gladstone Financial Corp now owns 9,551 shares of the software maker’s stock valued at $765,000 after purchasing an additional 2,162 shares in the last quarter. Synovus Financial Corp bought a new stake in shares of Shopify during the third quarter worth about $481,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Shopify in the third quarter valued at approximately $615,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer’s career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer’s committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

Shopify Company 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.