Moors & Cabot Inc. Purchases 2,905 Shares of Shopify Inc. (NYSE:SHOP)

Moors & Cabot Inc. boosted its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 79.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,582 shares of the software maker’s stock after acquiring an additional 2,905 shares during the quarter. Moors & Cabot Inc.’s holdings in Shopify were worth $527,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SHOP. Baillie Gifford & Co. increased its stake 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 worth $5,078,176,000 after purchasing an additional 8,131,160 shares during the last quarter. Mackenzie Financial Corp raised its holdings in 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 in the last quarter. Clearbridge Investments LLC raised its holdings in Shopify by 54.2% during 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 in the last quarter. MUFG Securities EMEA plc lifted its position in shares of Shopify by 11,507.2% in the second quarter. MUFG Securities EMEA plc now owns 1,506,260 shares of the software maker’s stock worth $99,488,000 after buying an additional 1,493,283 shares during the last quarter. Finally, TCW Group Inc. boosted its stake in shares of Shopify by 1,834.9% during the 2nd quarter. TCW Group Inc. now owns 1,296,842 shares of the software maker’s stock worth $85,656,000 after acquiring an additional 1,229,820 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Up 0.5 %

Shares of SHOP opened at $106.96 on Friday. The company has a market capitalization of $138.02 billion, a P/E ratio of 99.96, a PEG ratio of 3.09 and a beta of 2.36. Shopify Inc. has a one year low of $48.56 and a one year high of $115.62. The business’s 50 day simple moving average is $85.50 and its 200-day simple moving average is $72.15. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SHOP shares. The Goldman Sachs Group raised their price objective on Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Atb Cap Markets cut shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $70.00 price objective on shares of Shopify in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Shopify from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Barclays boosted their target price on shares of Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.95.

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.