Shopify Inc. (NYSE:SHOP) Shares Purchased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. boosted its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 26.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,609 shares of the software maker's stock after purchasing an additional 7,027 shares during the period. Oppenheimer & Co. Inc.'s holdings in Shopify were worth $2,693,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SHOP. GQG Partners LLC boosted its holdings in shares of Shopify by 197.9% in the 1st quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker's stock valued at $1,613,006,000 after purchasing an additional 13,885,473 shares in the last quarter. Capital World Investors boosted its stake in shares of Shopify by 26.2% in the 1st quarter. Capital World Investors now owns 49,764,809 shares of the software maker's stock valued at $3,840,332,000 after purchasing an additional 10,340,040 shares in the last quarter. Baillie Gifford & Co. boosted its position in Shopify by 14.7% during the 3rd 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. Price T Rowe Associates Inc. MD raised its stake in Shopify by 21.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker's stock worth $2,642,265,000 after buying an additional 5,982,434 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of Shopify by 49.9% in the second quarter. Mackenzie Financial Corp now owns 6,315,028 shares of the software maker's stock worth $417,386,000 after acquiring an additional 2,102,939 shares during the period. 69.27% of the stock is owned by institutional investors.

Shopify Stock Performance

Shares of NYSE SHOP traded down $0.59 during midday trading on Friday, reaching $108.49. 10,764,167 shares of the stock were exchanged, compared to its average volume of 9,739,536. The company has a quick ratio of 7.32, a current ratio of 7.10 and a debt-to-equity ratio of 0.10. The firm has a market cap of $139.99 billion, a price-to-earnings ratio of 101.39, a PEG ratio of 3.45 and a beta of 2.36. The firm has a 50-day simple moving average of $81.97 and a two-hundred day simple moving average of $71.02. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $115.62.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SHOP shares. JMP Securities increased their price objective on Shopify from $80.00 to $120.00 and gave the stock a "market outperform" rating in a research note on Wednesday. Royal Bank of Canada lifted their target price on shares of Shopify from $100.00 to $130.00 and gave the company an "outperform" rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of Shopify from $74.00 to $76.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 20th. Oppenheimer lifted their target price on shares of Shopify from $90.00 to $130.00 and gave the company an "outperform" rating in a report on Wednesday. Finally, DZ Bank cut Shopify from a "hold" rating to a "sell" rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.95.

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.