15,376 Shares in Shopify Inc. (NYSE:SHOP) Bought by TD Private Client Wealth LLC

TD Private Client Wealth LLC bought a new position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 15,376 shares of the software maker's stock, valued at approximately $1,232,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Swiss National Bank increased its holdings in Shopify by 0.9% in the 3rd quarter. Swiss National Bank now owns 3,657,800 shares of the software maker's stock valued at $293,507,000 after buying an additional 33,300 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in Shopify by 29.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker's stock valued at $27,409,000 after acquiring an additional 77,500 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in Shopify by 26.4% during the third quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker's stock valued at $2,693,000 after purchasing an additional 7,027 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its stake in Shopify by 4.6% during the third quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker's stock worth $381,000 after purchasing an additional 209 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Shopify during the third quarter worth $33,676,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Down 0.6 %

Shares of NYSE SHOP traded down $0.68 during midday trading on Friday, hitting $114.63. 4,667,226 shares of the stock traded hands, compared to its average volume of 9,205,084. 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 one year low of $48.56 and a one year high of $120.72. The business has a 50 day moving average price of $96.14 and a two-hundred day moving average price of $77.79. The company has a market cap of $148.11 billion, a PE ratio of 107.13, a P/E/G ratio of 3.05 and a beta of 2.46.

Wall Street Analyst Weigh In

SHOP has been the subject of several recent analyst reports. Piper Sandler upped their price objective on Shopify from $67.00 to $94.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 13th. Robert W. Baird lifted their price target on shares of Shopify from $90.00 to $126.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Canaccord Genuity Group increased their price objective on shares of Shopify from $80.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Moffett Nathanson boosted their target price on shares of Shopify from $86.00 to $99.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 26th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $120.00 price target on shares of Shopify in a research note on Thursday. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $99.03.

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.