Dixon Mitchell Investment Counsel Inc. Has $21.62 Million Stock Holdings in Shopify Inc. (NYSE:SHOP)

Dixon Mitchell Investment Counsel Inc. lifted its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 203,279 shares of the software maker’s stock after purchasing an additional 752 shares during the quarter. Dixon Mitchell Investment Counsel Inc.’s holdings in Shopify were worth $21,624,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SHOP. Oliver Lagore Vanvalin Investment Group increased its position in shares of Shopify by 100.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after acquiring an additional 200 shares in the last quarter. Brooklyn Investment Group acquired a new position in Shopify in the 3rd quarter valued at approximately $33,000. Rosenberg Matthew Hamilton raised its holdings in shares of Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after purchasing an additional 133 shares in the last quarter. Truvestments Capital LLC acquired a new stake in shares of Shopify in the 3rd quarter valued at $45,000. Finally, GAMMA Investing LLC lifted its stake in shares of Shopify by 73.5% in the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after purchasing an additional 253 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on SHOP shares. Citigroup raised their target price on Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a report on Monday, September 30th. New Street Research started coverage on Shopify in a research note on Friday, January 10th. They set a “neutral” rating and a $115.00 target price for the company. Loop Capital raised Shopify from a “hold” rating to a “buy” rating and lifted their price target for the stock from $110.00 to $140.00 in a research report on Friday, December 6th. KeyCorp increased their price objective on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $70.00 target price on shares of Shopify in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $100.31.

Shopify Trading Up 0.4 %

Shares of NYSE:SHOP opened at $104.61 on Thursday. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $120.72. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The company has a market capitalization of $135.17 billion, a P/E ratio of 97.77, a price-to-earnings-growth ratio of 2.18 and a beta of 2.46. The company has a 50-day simple moving average of $108.26 and a 200 day simple moving average of $85.04.

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.