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

Wilmington Savings Fund Society FSB boosted its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,832 shares of the software maker’s stock after purchasing 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.

Other large investors have also added to or reduced their stakes in the company. Baillie Gifford & Co. grew its position in 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 boosted its stake in shares of Shopify by 16.1% during the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after acquiring an additional 5,869,795 shares during the last quarter. National Bank of Canada FI grew its position in shares of Shopify by 28.0% during the 3rd 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. Massachusetts Financial Services Co. MA increased its stake in shares of Shopify by 52.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker’s stock worth $308,390,000 after purchasing an additional 1,325,350 shares in the last quarter. Finally, Jennison Associates LLC bought a new position in Shopify in the 4th quarter worth $132,323,000. Institutional investors own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SHOP. Wells Fargo & Company raised their price objective on Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Loop Capital upgraded shares of Shopify from a “hold” rating to a “buy” rating and raised their target price for the stock from $110.00 to $140.00 in a research note on Friday, December 6th. Wedbush upgraded shares of Shopify from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $115.00 to $125.00 in a research report on Monday, January 6th. Mizuho raised their price objective 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. Finally, Barclays lifted their target price on shares of Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Shopify currently has an average rating of “Moderate Buy” and an average target price of $101.74.

Shopify Stock Performance

SHOP stock opened at $119.88 on Tuesday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $123.41. The firm 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 business’s fifty day simple moving average is $110.91 and its two-hundred day simple moving average is $90.95. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09.

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.