First Hawaiian Bank Buys New Stake in Shopify Inc. (NYSE:SHOP)

First Hawaiian Bank acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,996 shares of the software maker’s stock, valued at approximately $744,000.

Several other large investors also recently bought and sold shares of SHOP. Oliver Lagore Vanvalin Investment Group boosted 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 acquiring an additional 200 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Shopify during the third quarter worth about $33,000. Rosenberg Matthew Hamilton boosted its stake in shares of Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after buying an additional 133 shares during the period. Truvestments Capital LLC acquired a new stake in shares of Shopify during the third quarter worth about $45,000. Finally, GAMMA Investing LLC boosted its stake in shares of Shopify by 73.5% during the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock worth $48,000 after buying an additional 253 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

SHOP has been the subject of several recent research reports. Robert W. Baird increased their target price on shares of Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Oppenheimer increased their target price on shares of Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Barclays increased their target price on shares of Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. JMP Securities reissued a “market outperform” rating and set a $120.00 price target on shares of Shopify in a report on Thursday, December 12th. Finally, The Goldman Sachs Group increased their price target on shares of Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $100.31.

Shopify Stock Down 3.5 %

Shares of NYSE SHOP opened at $103.91 on Friday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $120.72. The firm’s 50 day moving average price is $107.35 and its 200 day moving average price is $84.27. The firm has a market cap of $134.26 billion, a P/E ratio of 97.11, a price-to-earnings-growth ratio of 2.98 and a beta of 2.46. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10.

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.