Shopify Inc. (NYSE:SHOP) Shares Acquired by Watts Gwilliam & Co. LLC

Watts Gwilliam & Co. LLC boosted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 53.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 13,401 shares of the software maker’s stock after acquiring an additional 4,641 shares during the quarter. Watts Gwilliam & Co. LLC’s holdings in Shopify were worth $1,431,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Swiss National Bank boosted its holdings in Shopify by 0.9% in the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock valued at $293,507,000 after purchasing an additional 33,300 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in Shopify by 29.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock valued at $27,409,000 after acquiring an additional 77,500 shares during the period. Oppenheimer & Co. Inc. boosted its position in Shopify by 26.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock worth $2,693,000 after purchasing an additional 7,027 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its stake in shares of Shopify by 4.6% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker’s stock worth $381,000 after purchasing an additional 209 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Shopify during the 3rd quarter valued at approximately $33,676,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. DZ Bank downgraded shares of Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Royal Bank of Canada increased their target price on shares of Shopify from $100.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and raised their target price for the company from $110.00 to $140.00 in a research report on Friday, December 6th. Truist Financial upped their price target on Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group raised their price objective on Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.88.

Shopify Price Performance

NYSE:SHOP opened at $107.74 on Friday. The stock’s fifty day moving average is $106.86 and its two-hundred day moving average is $83.99. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $139.21 billion, a P/E ratio of 100.69, a P/E/G ratio of 2.98 and a beta of 2.46. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $120.72.

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.