Blue Trust Inc. Increases Stock Position in Shopify Inc. (NYSE:SHOP)

Blue Trust Inc. raised its holdings in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 54.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,468 shares of the software maker's stock after buying an additional 3,000 shares during the period. Blue Trust Inc.'s holdings in Shopify were worth $900,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of research firms recently commented on SHOP. Mizuho lifted their price target on Shopify from $68.00 to $105.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 13th. Barclays raised their price objective on Shopify from $70.00 to $93.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 13th. New Street Research assumed coverage on shares of Shopify in a research note on Friday, January 10th. They set a "neutral" rating and a $115.00 target price for the company. DZ Bank downgraded shares of Shopify from a "hold" rating to a "sell" rating in a research report on Thursday, November 21st. Finally, Wedbush raised shares of Shopify from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $115.00 to $125.00 in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $100.32.

Shopify Price Performance

Shopify stock traded up $3.07 on Thursday, reaching $119.66. The company's stock had a trading volume of 3,130,156 shares, compared to its average volume of 6,006,737. The business's fifty day moving average price is $109.91 and its 200 day moving average price is $88.09. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $120.72. The company has a market cap of $154.61 billion, a price-to-earnings ratio of 111.74, a PEG ratio of 2.24 and a beta of 2.46.

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.