Sanctuary Advisors LLC Increases Stock Position in Shopify Inc. (NYSE:SHOP)

Sanctuary Advisors LLC lifted its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 11.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 151,227 shares of the software maker's stock after acquiring an additional 15,740 shares during the period. Sanctuary Advisors LLC's holdings in Shopify were worth $12,119,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Oliver Lagore Vanvalin Investment Group boosted its position in shares of Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker's stock valued at $26,000 after acquiring an additional 200 shares during the last quarter. Cultivar Capital Inc. bought a new position in Shopify during the second quarter valued at $33,000. Hazlett Burt & Watson Inc. purchased a new position in shares of Shopify in the 2nd quarter worth $33,000. Brooklyn Investment Group bought a new stake in shares of Shopify in the 3rd quarter worth about $33,000. Finally, Rosenberg Matthew Hamilton raised its position in shares of Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker's stock valued at $36,000 after buying an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.

Shopify Stock Down 0.6 %

Shares of Shopify stock traded down $0.68 during trading on Friday, hitting $114.63. 4,667,226 shares of the stock were exchanged, compared to its average volume of 9,205,084. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $120.72. 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 stock has a market cap of $148.11 billion, a price-to-earnings ratio of 107.13, a price-to-earnings-growth ratio of 3.05 and a beta of 2.46. The firm's 50-day moving average price is $96.14 and its 200 day moving average price is $77.79.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SHOP shares. Atb Cap Markets lowered Shopify from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, November 12th. Scotiabank increased their target price on shares of Shopify from $75.00 to $80.00 and gave the company a "sector perform" rating in a research note on Thursday, October 24th. Wedbush reiterated a "neutral" rating and set a $115.00 price target (up from $72.00) on shares of Shopify in a report on Tuesday, November 12th. Robert W. Baird increased their price objective on shares of Shopify from $90.00 to $126.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group upped their target price on Shopify from $88.00 to $135.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $99.03.

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.