Annex Advisory Services LLC Acquires Shares of 2,650 Shopify Inc. (NYSE:SHOP)

Annex Advisory Services LLC acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,650 shares of the software maker’s stock, valued at approximately $282,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swiss National Bank lifted its holdings in Shopify by 0.9% in the 3rd quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock valued at $293,507,000 after purchasing an additional 33,300 shares in the last quarter. Watts Gwilliam & Co. LLC raised its holdings in shares of Shopify by 53.0% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock worth $1,431,000 after acquiring an additional 4,641 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Shopify by 29.3% during the 3rd 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 acquiring an additional 77,500 shares during the period. Oppenheimer & Co. Inc. raised its holdings in shares of Shopify by 26.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock worth $2,693,000 after acquiring an additional 7,027 shares during the period. Finally, Nations Financial Group Inc. IA ADV raised its holdings in shares of Shopify by 4.6% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker’s stock worth $381,000 after acquiring an additional 209 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

SHOP has been the topic of several analyst reports. Atb Cap Markets lowered Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. New Street Research began coverage on Shopify in a report on Friday, January 10th. They set a “neutral” rating and a $115.00 price target on the stock. Wedbush raised Shopify from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $115.00 to $125.00 in a research report on Monday, January 6th. JMP Securities reissued a “market outperform” rating and set a $120.00 price objective on shares of Shopify in a research report on Thursday, December 12th. Finally, Oppenheimer raised their price objective on Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $100.31.

Shopify Stock Performance

Shares of Shopify stock opened at $106.44 on Wednesday. The firm has a market capitalization of $137.54 billion, a P/E ratio of 99.48, a P/E/G ratio of 2.17 and a beta of 2.46. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $120.72. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The firm’s 50 day moving average is $109.65 and its two-hundred day moving average is $86.09.

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.