Forsta AP Fonden Buys 65,400 Shares of Shopify Inc. (NYSE:SHOP)

Forsta AP Fonden lifted its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 21.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 369,500 shares of the software maker's stock after acquiring an additional 65,400 shares during the period. Forsta AP Fonden's holdings in Shopify were worth $39,306,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in SHOP. Baillie Gifford & Co. lifted its stake in shares of Shopify by 14.7% in the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker's stock worth $5,078,176,000 after acquiring an additional 8,131,160 shares during the period. FMR LLC lifted its stake in Shopify by 16.1% during the third quarter. FMR LLC now owns 42,306,077 shares of the software maker's stock valued at $3,389,637,000 after purchasing an additional 5,869,795 shares during the last quarter. Clearbridge Investments LLC lifted its stake in Shopify by 54.2% during the second quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker's stock valued at $311,404,000 after purchasing an additional 1,657,251 shares during the last quarter. National Bank of Canada FI lifted its stake in 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 during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake 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 purchasing an additional 1,325,350 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of NYSE SHOP traded down $2.48 during trading hours on Friday, hitting $116.70. 7,750,504 shares of the stock were exchanged, compared to its average volume of 5,562,812. 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's 50 day moving average is $110.36 and its 200 day moving average is $88.67. The firm has a market capitalization of $150.79 billion, a P/E ratio of 109.07, a P/E/G ratio of 2.45 and a beta of 2.46. Shopify Inc. has a one year low of $48.56 and a one year high of $122.00.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $130.00 target price on shares of Shopify in a research note on Wednesday, January 22nd. KeyCorp increased their target price on shares of Shopify from $80.00 to $130.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. Piper Sandler increased their target price on shares of Shopify from $67.00 to $94.00 and gave the company a "neutral" rating in a research note on Wednesday, November 13th. Canaccord Genuity Group increased their target price on shares of Shopify from $80.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Finally, Moffett Nathanson boosted their price target on shares of Shopify from $86.00 to $99.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Shopify presently has a consensus rating of "Moderate Buy" and an average price target of $100.32.

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.