Logan Capital Management Inc. Increases Stock Holdings in Shopify Inc. (NYSE:SHOP)

Logan Capital Management Inc. lifted its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 9.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,779 shares of the software maker’s stock after purchasing an additional 3,652 shares during the period. Logan Capital Management Inc.’s holdings in Shopify were worth $3,348,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group raised its holdings in Shopify by 100.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after acquiring an additional 200 shares during the last quarter. Cultivar Capital Inc. purchased a new stake in shares of Shopify in the second quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. acquired a new stake in shares of Shopify in the second quarter valued at approximately $33,000. Brooklyn Investment Group purchased a new position in Shopify during the third quarter worth approximately $33,000. Finally, Rosenberg Matthew Hamilton boosted its stake in 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 last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Mizuho increased their price target on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Moffett Nathanson increased their target price on shares of Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Oppenheimer boosted their price target 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. JMP Securities reaffirmed a “market outperform” rating and set a $120.00 price objective on shares of Shopify in a research report on Thursday. Finally, Atb Cap Markets lowered Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $99.03.

Shopify Trading Down 0.6 %

Shares of Shopify stock opened at $114.63 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 1 year low of $48.56 and a 1 year high of $120.72. The business has a 50 day moving average price of $96.14 and a 200 day moving average price of $77.79. The company has a market capitalization of $148.11 billion, a P/E ratio of 107.13, a P/E/G ratio of 3.05 and a beta of 2.46.

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.