Shopify Inc. (NYSE:SHOP) Stock Position Raised by SG Americas Securities LLC

SG Americas Securities LLC boosted its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 14.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,100 shares of the software maker’s stock after purchasing an additional 7,248 shares during the quarter. SG Americas Securities LLC’s holdings in Shopify were worth $6,178,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. raised its stake in Shopify by 14.7% during the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after acquiring an additional 8,131,160 shares in the last quarter. FMR LLC increased its stake in Shopify by 16.1% during the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after buying an additional 5,869,795 shares during the period. Legal & General Group Plc raised its position in shares of Shopify by 1.8% during the 2nd quarter. Legal & General Group Plc now owns 8,233,517 shares of the software maker’s stock worth $544,017,000 after buying an additional 145,618 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Shopify by 6.3% in the third quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker’s stock valued at $658,248,000 after acquiring an additional 484,561 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in shares of Shopify by 28.0% during the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after acquiring an additional 1,621,981 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SHOP has been the topic of several research analyst reports. Citigroup lifted their price target on Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a research report on Monday, September 30th. JMP Securities reiterated a “market outperform” rating and issued a $120.00 target price on shares of Shopify in a report on Thursday, December 12th. Oppenheimer lifted their price target on shares of Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Scotiabank increased their price objective on Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group boosted their target price on Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.31.

Shopify Stock Performance

SHOP opened at $107.74 on Friday. 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 business’s 50-day simple moving average is $109.38 and its 200 day simple moving average is $86.64. The firm has a market capitalization of $139.22 billion, a PE ratio of 100.70, a PEG ratio of 2.24 and a beta of 2.46. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $120.72.

About Shopify

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.