Koshinski Asset Management Inc. Makes New Investment in Shopify Inc. (NYSE:SHOP)

Koshinski Asset Management Inc. bought a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,991 shares of the software maker’s stock, valued at approximately $212,000.

A number of other institutional investors and hedge funds have also modified their holdings of SHOP. Baillie Gifford & Co. increased its stake in Shopify by 14.7% during the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after buying an additional 8,131,160 shares in the last quarter. FMR LLC boosted its stake in shares of Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after acquiring an additional 5,869,795 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of 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. Clearbridge Investments LLC raised its stake in Shopify by 54.2% in the 2nd quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock valued at $311,404,000 after purchasing an additional 1,657,251 shares during the last quarter. Finally, National Bank of Canada FI lifted its holdings in Shopify by 28.0% in the 3rd quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after purchasing an additional 1,621,981 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 0.2 %

Shares of NYSE:SHOP opened at $106.16 on Friday. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $120.72. The company’s 50 day moving average is $109.44 and its two-hundred day moving average is $86.51. The company has a market cap of $137.17 billion, a PE ratio of 99.21, a P/E/G ratio of 2.23 and a beta of 2.46. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09.

Wall Street Analyst Weigh In

SHOP has been the subject of a number of recent research reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $70.00 target price on shares of Shopify in a research report on Monday, October 7th. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Citigroup increased their price target on Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a report on Monday, September 30th. Loop Capital raised Shopify from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $110.00 to $140.00 in a research note on Friday, December 6th. Finally, KeyCorp raised their target price on Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $100.31.

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.