Douglass Winthrop Advisors LLC Boosts Stake in Shopify Inc. (NYSE:SHOP)

Douglass Winthrop Advisors LLC lifted its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,652 shares of the software maker’s stock after acquiring an additional 597 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Shopify were worth $1,575,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Baillie Gifford & Co. boosted 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 valued at $5,078,176,000 after buying an additional 8,131,160 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Shopify by 49.9% during the 2nd quarter. Mackenzie Financial Corp now owns 6,315,028 shares of the software maker’s stock valued at $417,386,000 after acquiring an additional 2,102,939 shares during the last quarter. Clearbridge Investments LLC grew its holdings in Shopify by 54.2% during the 2nd quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock worth $311,404,000 after acquiring an additional 1,657,251 shares in the last quarter. MUFG Securities EMEA plc increased its position in shares of Shopify by 11,507.2% in the 2nd quarter. MUFG Securities EMEA plc now owns 1,506,260 shares of the software maker’s stock worth $99,488,000 after purchasing an additional 1,493,283 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Shopify by 52.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker’s stock valued at $308,390,000 after purchasing an additional 1,325,350 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Canaccord Genuity Group boosted their price objective on Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Scotiabank upped their price target on Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, October 24th. Piper Sandler lifted their price objective on shares of Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Robert W. Baird raised their price target on shares of Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $94.95.

Shopify Stock Up 0.5 %

SHOP stock opened at $106.96 on Monday. The firm has a market cap of $138.02 billion, a PE ratio of 99.96, a P/E/G ratio of 2.81 and a beta of 2.36. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $115.62. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The firm has a 50 day simple moving average of $85.50 and a 200 day simple moving average of $72.18.

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.