World Investment Advisors LLC Acquires 6,776 Shares of Shopify Inc. (NYSE:SHOP)

World Investment Advisors LLC increased its holdings in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 113.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,751 shares of the software maker's stock after acquiring an additional 6,776 shares during the period. World Investment Advisors LLC's holdings in Shopify were worth $1,022,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sanctuary Advisors LLC boosted its position in shares of Shopify by 11.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 151,227 shares of the software maker's stock worth $12,119,000 after purchasing an additional 15,740 shares during the period. TCW Group Inc. raised its stake in Shopify by 0.9% during the 3rd quarter. TCW Group Inc. now owns 1,308,745 shares of the software maker's stock valued at $104,883,000 after acquiring an additional 11,903 shares during the last quarter. TD Private Client Wealth LLC acquired a new position in Shopify in the 3rd quarter valued at $1,232,000. Arete Wealth Advisors LLC acquired a new stake in Shopify in the third quarter valued at about $568,000. Finally, Teachers Retirement System of The State of Kentucky grew its position in Shopify by 29.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker's stock worth $27,409,000 after buying an additional 77,500 shares during the period. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SHOP shares. Wells Fargo & Company increased their price target on shares of Shopify from $90.00 to $120.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. DZ Bank downgraded shares of Shopify from a "hold" rating to a "sell" rating in a research note on Thursday, November 21st. The Goldman Sachs Group increased their target price on shares of Shopify from $88.00 to $135.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Loop Capital raised Shopify from a "hold" rating to a "buy" rating and upped their target price for the stock from $110.00 to $140.00 in a research report on Friday, December 6th. Finally, Scotiabank lifted their price target on shares of Shopify from $75.00 to $80.00 and gave the stock a "sector perform" rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $99.03.

Shopify Trading Up 1.2 %

Shares of NYSE:SHOP traded up $1.35 during midday trading on Monday, hitting $115.98. 5,176,938 shares of the stock were exchanged, compared to its average volume of 9,188,469. The stock has a market capitalization of $149.86 billion, a price-to-earnings ratio of 108.36, a P/E/G ratio of 2.98 and a beta of 2.46. The business's 50-day moving average price is $96.14 and its 200 day moving average price is $78.06. 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 12 month low of $48.56 and a 12 month high of $120.72.

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.