Shopify Inc. (NYSE:SHOP) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC boosted its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,446 shares of the software maker’s stock after acquiring an additional 1,211 shares during the period. Empowered Funds LLC’s holdings in Shopify were worth $1,799,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SHOP. Oliver Lagore Vanvalin Investment Group increased its holdings in Shopify by 100.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after buying an additional 200 shares during the last quarter. Cultivar Capital Inc. acquired a new position in Shopify during the 2nd quarter valued at about $33,000. Hazlett Burt & Watson Inc. acquired a new stake in shares of Shopify in the second quarter valued at approximately $33,000. Rosenberg Matthew Hamilton boosted its position in shares of Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after buying an additional 133 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Shopify in the 2nd quarter worth approximately $39,000. 69.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SHOP. KeyCorp increased their price target on Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Redburn Atlantic raised shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 target price on the stock in a research note on Tuesday, September 17th. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Oppenheimer raised their price objective on shares of Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Roth Mkm upped their target price on Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $94.95.

Shopify Trading Down 0.6 %

Shares of SHOP opened at $103.97 on Thursday. The stock has a fifty day moving average price of $84.11 and a two-hundred day moving average price of $71.71. The company has a market cap of $134.16 billion, a price-to-earnings ratio of 97.17, a PEG ratio of 3.45 and a beta of 2.36. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.10 and a current ratio of 7.10. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $115.62.

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.