Stonekeep Investments LLC Makes New $230,000 Investment in Shopify Inc. (NYSE:SHOP)

Stonekeep Investments LLC purchased a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,168 shares of the software maker’s stock, valued at approximately $230,000.

Several other institutional investors have also made changes to their positions in the company. Baillie Gifford & Co. increased its holdings in shares of Shopify by 14.7% during the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after acquiring an additional 8,131,160 shares during the last quarter. FMR LLC raised its stake in Shopify by 16.1% during the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after purchasing an additional 5,869,795 shares during the last quarter. Mackenzie Financial Corp raised 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 valued at $417,386,000 after buying an additional 2,102,939 shares during the last quarter. Clearbridge Investments LLC lifted its stake in shares of Shopify by 54.2% in the second quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock valued at $311,404,000 after buying an additional 1,657,251 shares during the period. Finally, National Bank of Canada FI grew its position 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 worth $593,588,000 after buying an additional 1,621,981 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SHOP has been the subject of several research reports. Citigroup raised their target price on Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Barclays increased their target price on Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Royal Bank of Canada increased their price objective on Shopify from $100.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Atb Cap Markets lowered shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Truist Financial lifted their price target on shares of Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a report 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $100.31.

Shopify Stock Down 0.2 %

Shopify stock opened at $103.25 on Friday. The firm has a 50 day simple moving average of $109.06 and a 200 day simple moving average of $85.30. The firm has a market capitalization of $133.41 billion, a price-to-earnings ratio of 96.50, a P/E/G ratio of 2.18 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. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $120.72.

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.