Shopify Inc. (NYSE:SHOP) Shares Acquired by Greenleaf Trust

Greenleaf Trust raised its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,938 shares of the software maker’s stock after purchasing an additional 183 shares during the quarter. Greenleaf Trust’s holdings in Shopify were worth $419,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Baillie Gifford & Co. lifted its holdings 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 during the last quarter. FMR LLC lifted its stake in Shopify by 16.1% during the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after purchasing an additional 5,869,795 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Shopify by 6.3% in the third quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker’s stock worth $658,248,000 after purchasing an additional 484,561 shares during the period. National Bank of Canada FI increased its stake in Shopify by 28.0% during the third 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 during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Shopify by 9.6% during the third quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker’s stock worth $432,573,000 after purchasing an additional 471,280 shares during the period. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Scotiabank lifted their price target on shares of Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, October 24th. Wedbush raised Shopify from a “neutral” rating to an “outperform” rating and upped their target price for the company from $115.00 to $125.00 in a report on Monday, January 6th. DZ Bank downgraded Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Mizuho boosted their price objective on Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group increased their target price on Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $100.32.

Shopify Trading Up 2.3 %

NYSE:SHOP opened at $121.89 on Thursday. The stock has a fifty day simple moving average of $110.57 and a 200 day simple moving average of $89.73. The firm has a market capitalization of $157.49 billion, a price-to-earnings ratio of 113.91, a price-to-earnings-growth ratio of 2.46 and a beta of 2.47. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $122.00. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09.

Shopify 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.