Swiss National Bank Has $293.51 Million Position in Shopify Inc. (NYSE:SHOP)

Swiss National Bank lifted its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 0.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,657,800 shares of the software maker's stock after purchasing an additional 33,300 shares during the period. Swiss National Bank owned about 0.28% of Shopify worth $293,507,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SHOP. Moser Wealth Advisors LLC lifted its holdings in shares of Shopify by 1.4% during the third quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker's stock valued at $755,000 after purchasing an additional 128 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in Shopify by 7.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker's stock valued at $159,000 after buying an additional 129 shares in the last quarter. Rosenberg Matthew Hamilton boosted its holdings in shares of Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker's stock worth $36,000 after buying an additional 133 shares during the period. CVA Family Office LLC increased its position in shares of Shopify by 11.8% in the third quarter. CVA Family Office LLC now owns 1,354 shares of the software maker's stock worth $109,000 after acquiring an additional 143 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC increased its position in shares of Shopify by 3.5% in the third quarter. Twin Peaks Wealth Advisors LLC now owns 4,282 shares of the software maker's stock worth $343,000 after acquiring an additional 145 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Price Performance

Shares of NYSE SHOP traded down $0.59 during midday trading on Friday, reaching $108.49. 10,764,167 shares of the company traded hands, compared to its average volume of 9,739,536. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $115.62. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.10. The stock's 50-day simple moving average is $81.97 and its 200-day simple moving average is $71.03. The firm has a market cap of $139.99 billion, a PE ratio of 101.39, a PEG ratio of 3.45 and a beta of 2.36.

Analyst Ratings Changes

Several research firms recently weighed in on SHOP. Oppenheimer upped their price target on Shopify from $90.00 to $130.00 and gave the company an "outperform" rating in a research report on Wednesday. Canaccord Genuity Group upped their target price on Shopify from $80.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday. Benchmark restated a "hold" rating on shares of Shopify in a report on Tuesday, August 6th. Argus upgraded shares of Shopify to a "strong-buy" rating in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group lifted their target price on shares of Shopify from $88.00 to $135.00 and gave the company a "buy" rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Shopify currently has an average rating of "Moderate Buy" and an average target price of $94.95.

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.