Wolff Wiese Magana LLC boosted its position in Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) by 5.4% during the third quarter, Holdings Channel reports. The institutional investor owned 2,974 shares of the software maker’s stock after purchasing an additional 152 shares during the quarter. Wolff Wiese Magana LLC’s holdings in Shopify were worth $238,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Capital World Investors lifted its position in shares of Shopify by 26.2% in the first quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock worth $3,840,332,000 after purchasing an additional 10,340,040 shares in the last quarter. Vanguard Group Inc. increased its stake in Shopify by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock valued at $3,309,154,000 after buying an additional 713,064 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Shopify by 21.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock worth $2,642,265,000 after buying an additional 5,982,434 shares in the last quarter. GQG Partners LLC grew its holdings in shares of Shopify by 197.9% in the 1st quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock valued at $1,613,006,000 after acquiring an additional 13,885,473 shares in the last quarter. Finally, Capital International Investors increased its position in shares of Shopify by 3.4% in the first quarter. Capital International Investors now owns 16,392,141 shares of the software maker’s stock valued at $1,264,982,000 after acquiring an additional 542,503 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.
Shopify Stock Performance
Shares of Shopify stock opened at $81.82 on Thursday. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. The company has a market cap of $105.44 billion, a PE ratio of -481.29, a price-to-earnings-growth ratio of 2.77 and a beta of 2.36. The company has a 50 day moving average of $75.73 and a 200-day moving average of $68.81. Shopify Inc. has a 1-year low of $45.50 and a 1-year high of $91.57.
Analyst Upgrades and Downgrades
Several research analysts recently commented on SHOP shares. Robert W. Baird increased their price target on Shopify from $79.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Benchmark reissued a “hold” rating on shares of Shopify in a report on Tuesday, August 6th. KeyCorp assumed coverage on shares of Shopify in a report on Thursday, July 25th. They set an “overweight” rating and a $80.00 target price on the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $70.00 price objective on shares of Shopify in a research report on Monday, October 7th. Finally, Argus raised shares of Shopify to a “strong-buy” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.97.
Read Our Latest Report on SHOP
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.
Featured Stories
- Five stocks we like better than Shopify
- How to Use the MarketBeat Excel Dividend Calculator
- Taiwan Semiconductor Stock: Buy Now or Wait for Earnings?
- Canada Bond Market Holiday: How to Invest and Trade
- Abbott’s Growth and Dividends Make It a Smart Portfolio Pick
- Following Congress Stock Trades
- Citigroup Faces Growing Troubles: Could the Industry Be at Risk?
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 – Free Report) (TSE:SHOP).
Receive News & Ratings for Shopify Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify and related companies with MarketBeat.com's FREE daily email newsletter.