2,248 Shares in Shopify Inc. (NYSE:SHOP) Purchased by Western Financial Corp CA

Western Financial Corp CA purchased a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,248 shares of the software maker’s stock, valued at approximately $239,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Baillie Gifford & Co. grew its position in Shopify by 14.7% during the third 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 position in Shopify by 16.1% in the 3rd 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 period. National Bank of Canada FI raised its position in Shopify by 28.0% in the 3rd quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock worth $593,588,000 after purchasing an additional 1,621,981 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Shopify by 52.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker’s stock worth $308,390,000 after buying an additional 1,325,350 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in shares of Shopify by 7,928.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,141,915 shares of the software maker’s stock valued at $91,513,000 after acquiring an additional 1,127,692 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Performance

SHOP stock opened at $116.70 on Friday. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $122.00. The stock’s 50 day simple moving average is $110.36 and its 200 day simple moving average is $88.67. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $150.79 billion, a PE ratio of 109.07, a price-to-earnings-growth ratio of 2.45 and a beta of 2.46.

Analyst Ratings Changes

SHOP has been the topic of a number of analyst reports. Canaccord Genuity Group lifted their price target on Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Wedbush raised shares of Shopify from a “neutral” rating to an “outperform” rating and increased their price target for the company from $115.00 to $125.00 in a research report on Monday, January 6th. KeyCorp boosted their price objective on shares of Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. JMP Securities reiterated a “market outperform” rating and set a $120.00 target price on shares of Shopify in a report on Thursday, December 12th. Finally, DZ Bank downgraded Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $100.32.

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.