Shopify Inc. (NYSE:SHOP) Stake Decreased by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise lessened its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,150 shares of the software maker’s stock after selling 186 shares during the period. Banque Cantonale Vaudoise’s holdings in Shopify were worth $252,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in SHOP. Baillie Gifford & Co. raised its holdings in Shopify by 14.7% during the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after purchasing an additional 8,131,160 shares in the last quarter. TD Asset Management Inc raised its holdings in Shopify by 6.9% during the second quarter. TD Asset Management Inc now owns 8,661,462 shares of the software maker’s stock worth $572,263,000 after purchasing an additional 559,917 shares in the last quarter. Legal & General Group Plc raised its holdings in Shopify by 1.8% during the second quarter. Legal & General Group Plc now owns 8,233,517 shares of the software maker’s stock worth $544,017,000 after purchasing an additional 145,618 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Shopify by 7.4% during the second quarter. The Manufacturers Life Insurance Company now owns 7,726,950 shares of the software maker’s stock worth $510,016,000 after purchasing an additional 533,111 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Shopify by 49.9% during the second quarter. Mackenzie Financial Corp now owns 6,315,028 shares of the software maker’s stock worth $417,386,000 after purchasing an additional 2,102,939 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Up 0.5 %

SHOP stock opened at $106.96 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $115.62. The company has a 50-day moving average of $85.50 and a two-hundred day moving average of $72.15. The stock has a market capitalization of $138.02 billion, a price-to-earnings ratio of 99.96, a price-to-earnings-growth ratio of 3.09 and a beta of 2.36.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Roth Mkm boosted their target price on Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Canaccord Genuity Group upped their price target on Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. JMP Securities upped their price target on Shopify from $80.00 to $120.00 and gave the company a “market outperform” rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft upped their price target on Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, Wells Fargo & Company upped their price target on Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.95.

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.