Wilmington Savings Fund Society FSB Purchases 153 Shares of Shopify Inc. (NYSE:SHOP)

Wilmington Savings Fund Society FSB boosted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.0% during the 4th quarter, HoldingsChannel reports. The firm owned 7,832 shares of the software maker’s stock after buying an additional 153 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Shopify were worth $833,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Baillie Gifford & Co. increased its stake in shares of Shopify by 14.7% during the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after buying an additional 8,131,160 shares during the period. FMR LLC lifted its position in shares of Shopify by 16.1% in the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after purchasing an additional 5,869,795 shares during the period. National Bank of Canada FI boosted 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 purchasing an additional 1,621,981 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Shopify by 52.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker’s stock valued at $308,390,000 after buying an additional 1,325,350 shares during the period. Finally, Jennison Associates LLC bought a new position in Shopify in the fourth quarter worth approximately $132,323,000. 69.27% of the stock is owned by institutional investors.

Shopify Trading Up 2.1 %

SHOP stock opened at $119.88 on Tuesday. The business’s 50-day moving average is $110.91 and its 200 day moving average is $90.95. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $123.41. The stock has a market cap of $154.89 billion, a price-to-earnings ratio of 112.04, a PEG ratio of 2.49 and a beta of 2.47. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Canaccord Genuity Group boosted their price target on Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Benchmark upgraded shares of Shopify from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a report on Monday. Mizuho increased their price target on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $130.00 price objective on shares of Shopify in a research report on Wednesday, January 22nd. Finally, Oppenheimer increased their target price on shares of Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $101.74.

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.