One Wealth Capital Management LLC Purchases Shares of 12,046 Shopify Inc. (NYSE:SHOP)

One Wealth Capital Management LLC acquired a new stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 12,046 shares of the software maker's stock, valued at approximately $1,281,000. Shopify comprises 0.6% of One Wealth Capital Management LLC's holdings, making the stock its 27th largest position.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Baillie Gifford & Co. lifted its holdings in Shopify by 14.7% in 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 acquiring an additional 8,131,160 shares during the period. FMR LLC lifted its stake in shares of Shopify by 16.1% in the 3rd 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 period. Legal & General Group Plc boosted its holdings in Shopify by 1.8% during the second quarter. Legal & General Group Plc now owns 8,233,517 shares of the software maker's stock worth $544,017,000 after buying an additional 145,618 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Shopify by 6.3% during the third quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker's stock valued at $658,248,000 after buying an additional 484,561 shares during the period. Finally, National Bank of Canada FI increased its holdings in Shopify by 28.0% in 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 buying an additional 1,621,981 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SHOP shares. Oppenheimer raised their target price on Shopify from $90.00 to $130.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Cantor Fitzgerald reissued a "neutral" rating and issued a $70.00 price objective on shares of Shopify in a report on Monday, October 7th. Moffett Nathanson upped their target price on Shopify from $86.00 to $99.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 26th. Barclays lifted their price target 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. Finally, Redburn Atlantic upgraded shares of Shopify from a "neutral" rating to a "buy" rating and set a $99.00 price objective for the company in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $99.88.

Shopify Stock Down 6.5 %

Shares of Shopify stock traded down $7.40 during trading hours on Tuesday, reaching $106.84. 6,146,482 shares of the company were exchanged, compared to its average volume of 5,154,556. The firm has a market cap of $138.05 billion, a PE ratio of 99.85, a PEG ratio of 2.98 and a beta of 2.46. 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 1 year low of $48.56 and a 1 year high of $120.72. The stock's fifty day moving average is $105.18 and its 200 day moving average is $83.37.

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.