Shopify Inc. (NYSE:SHOP) Shares Bought by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC increased its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 52.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,600 shares of the software maker’s stock after purchasing an additional 900 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Shopify were worth $276,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Swiss National Bank lifted its stake in shares of Shopify by 0.9% in the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock worth $293,507,000 after acquiring an additional 33,300 shares in the last quarter. Watts Gwilliam & Co. LLC raised its position in shares of Shopify by 53.0% in the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after purchasing an additional 4,641 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of Shopify by 29.3% in the 3rd 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 purchasing an additional 77,500 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Shopify by 26.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock valued at $2,693,000 after buying an additional 7,027 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV grew its position in shares of Shopify by 4.6% during the third quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker’s stock worth $381,000 after buying an additional 209 shares in the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Trading Up 1.5 %

NYSE SHOP opened at $107.74 on Friday. Shopify Inc. has a twelve month low of $48.56 and a twelve month 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 stock has a market cap of $139.22 billion, a price-to-earnings ratio of 100.70, a PEG ratio of 2.24 and a beta of 2.46. The firm’s 50 day moving average price is $109.38 and its two-hundred day moving average price is $86.64.

Wall Street Analysts Forecast Growth

SHOP has been the topic of a number of research analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and set a $70.00 price objective on shares of Shopify in a research note on Monday, October 7th. Wedbush raised shares of Shopify from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $115.00 to $125.00 in a research report on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $130.00 price target on shares of Shopify in a research note on Wednesday. Oppenheimer lifted their price target on Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group lifted their price target on Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.31.

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.