Fmr LLC Boosts Stock Position in Shopify Inc. (NYSE:SHOP)

Fmr LLC boosted its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 16.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,306,077 shares of the software maker’s stock after purchasing an additional 5,869,795 shares during the quarter. Fmr LLC owned about 3.28% of Shopify worth $3,389,637,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Oliver Lagore Vanvalin Investment Group boosted its stake in Shopify by 100.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after buying an additional 200 shares during the period. Cultivar Capital Inc. bought a new stake in Shopify in the second quarter worth about $33,000. Hazlett Burt & Watson Inc. purchased a new position in shares of Shopify during the second quarter valued at approximately $33,000. Rosenberg Matthew Hamilton grew its stake in shares of Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after buying an additional 133 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Shopify in the second quarter worth approximately $39,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Up 3.8 %

SHOP stock opened at $111.03 on Tuesday. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $115.62. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The company has a market capitalization of $143.27 billion, a P/E ratio of 103.77, a price-to-earnings-growth ratio of 2.81 and a beta of 2.36. The firm’s fifty day simple moving average is $86.25 and its 200-day simple moving average is $72.53.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Royal Bank of Canada boosted their price objective on Shopify from $100.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Roth Mkm upped their price target on shares of Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Wedbush reissued a “neutral” rating and issued a $115.00 price objective (up from $72.00) on shares of Shopify in a research report on Tuesday, November 12th. UBS Group boosted their price target on Shopify from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Shopify from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and an average target price of $94.95.

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.