Loomis Sayles & Co. L P Has $1.21 Billion Stock Position in Shopify Inc. (NYSE:SHOP)

Loomis Sayles & Co. L P lessened its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 2.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,083,210 shares of the software maker's stock after selling 442,553 shares during the period. Shopify makes up approximately 1.6% of Loomis Sayles & Co. L P's investment portfolio, making the stock its 17th largest position. Loomis Sayles & Co. L P owned about 1.17% of Shopify worth $1,208,768,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Gamco Investors INC. ET AL acquired a new stake in shares of Shopify during the first quarter worth $207,000. BOKF NA raised its stake in Shopify by 6.3% in the 1st quarter. BOKF NA now owns 5,722 shares of the software maker's stock worth $447,000 after purchasing an additional 337 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its holdings in Shopify by 735.0% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 52,928 shares of the software maker's stock valued at $4,084,000 after purchasing an additional 46,589 shares during the period. Ancora Advisors LLC grew its position in shares of Shopify by 3.9% during the 1st quarter. Ancora Advisors LLC now owns 14,560 shares of the software maker's stock worth $1,124,000 after purchasing an additional 550 shares in the last quarter. Finally, Beacon Capital Management LLC increased its holdings in shares of Shopify by 20.8% during the first quarter. Beacon Capital Management LLC now owns 2,937 shares of the software maker's stock worth $227,000 after purchasing an additional 506 shares during the period. Institutional investors and hedge funds own 69.27% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Benchmark reiterated a "hold" rating on shares of Shopify in a research note on Tuesday, August 6th. JPMorgan Chase & Co. increased their target price on Shopify from $74.00 to $76.00 and gave the stock an "overweight" rating in a report on Tuesday, August 20th. Evercore ISI raised their price target on Shopify from $75.00 to $80.00 and gave the stock an "outperform" rating in a research report on Thursday, August 8th. Loop Capital upped their price objective on shares of Shopify from $80.00 to $90.00 and gave the stock a "hold" rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley raised their target price on shares of Shopify from $80.00 to $85.00 and gave the company an "overweight" rating in a report on Thursday, August 8th. One investment 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, Shopify has a consensus rating of "Moderate Buy" and an average target price of $94.95.

Shopify Trading Up 3.8 %

NYSE SHOP traded up $4.04 during trading hours on Monday, hitting $111.00. 9,941,605 shares of the company's stock were exchanged, compared to its average volume of 9,339,678. The firm has a market cap of $143.23 billion, a price-to-earnings ratio of 102.27, a PEG ratio of 2.81 and a beta of 2.36. The stock has a 50-day simple moving average of $85.50 and a 200 day simple moving average of $72.18. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $115.62.

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.