Wilmington Savings Fund Society FSB Acquires Shares of 7,679 Shopify Inc. (NYSE:SHOP)

Wilmington Savings Fund Society FSB bought a new position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,679 shares of the software maker's stock, valued at approximately $615,000.

A number of other institutional investors have also recently bought and sold shares of the business. Sunbelt Securities Inc. lifted its position in shares of Shopify by 0.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker's stock worth $1,162,000 after buying an additional 105 shares during the period. Moser Wealth Advisors LLC raised its stake in Shopify by 1.4% during the third quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker's stock worth $755,000 after acquiring an additional 128 shares in the last quarter. Massmutual Trust Co. FSB ADV raised 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 worth $159,000 after acquiring an additional 129 shares in the last quarter. Rosenberg Matthew Hamilton lifted its holdings in shares of Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker's stock valued at $36,000 after acquiring an additional 133 shares during the period. Finally, CVA Family Office LLC boosted its stake in shares of Shopify by 11.8% in the 3rd quarter. CVA Family Office LLC now owns 1,354 shares of the software maker's stock valued at $109,000 after purchasing an additional 143 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.

Shopify Trading Up 1.2 %

Shares of SHOP stock traded up $1.35 during trading hours on Monday, hitting $115.98. 5,176,938 shares of the company's stock traded hands, compared to its average volume of 9,188,469. The stock has a market cap of $149.86 billion, a PE ratio of 108.36, a price-to-earnings-growth ratio of 2.98 and a beta of 2.46. The stock's 50 day simple moving average is $96.14 and its 200 day simple moving average is $78.06. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $120.72.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SHOP shares. DZ Bank lowered shares of Shopify from a "hold" rating to a "sell" rating in a report on Thursday, November 21st. Wedbush reaffirmed 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. JPMorgan Chase & Co. lifted their price objective on Shopify from $74.00 to $76.00 and gave the company an "overweight" rating in a research report on Tuesday, August 20th. Wells Fargo & Company boosted their price objective on Shopify from $90.00 to $120.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Finally, Mizuho raised their target price on Shopify from $68.00 to $105.00 and gave the company a "neutral" rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $99.03.

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.