Gateway Investment Advisers LLC lifted its position in Shopify Inc. (NYSE:SHOP – Get Rating) (TSE:SHOP) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 77,216 shares of the software maker’s stock after buying an additional 2,764 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Shopify were worth $2,680,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of SHOP. Allworth Financial LP increased its position in Shopify by 6.2% during the fourth quarter. Allworth Financial LP now owns 9,542 shares of the software maker’s stock worth $331,000 after acquiring an additional 557 shares during the period. Dynamic Advisor Solutions LLC increased its position in Shopify by 12.4% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 20,429 shares of the software maker’s stock worth $709,000 after acquiring an additional 2,248 shares during the period. Flagship Harbor Advisors LLC increased its position in Shopify by 3.4% during the fourth quarter. Flagship Harbor Advisors LLC now owns 48,822 shares of the software maker’s stock worth $1,695,000 after acquiring an additional 1,598 shares during the period. Mutual Advisors LLC increased its position in Shopify by 2.6% during the fourth quarter. Mutual Advisors LLC now owns 36,645 shares of the software maker’s stock worth $1,272,000 after acquiring an additional 945 shares during the period. Finally, Titleist Asset Management LTD. increased its position in Shopify by 3.0% during the fourth quarter. Titleist Asset Management LTD. now owns 175,663 shares of the software maker’s stock worth $6,097,000 after acquiring an additional 5,178 shares during the period. 56.31% of the stock is currently owned by institutional investors and hedge funds.
Shopify Price Performance
Shopify stock opened at $45.79 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 7.07 and a current ratio of 7.07. The company’s 50-day moving average is $44.84 and its two-hundred day moving average is $37.55. Shopify Inc. has a 1 year low of $23.63 and a 1 year high of $75.88.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the stock. CIBC raised shares of Shopify from a “neutral” rating to a “sector outperform” rating in a research report on Tuesday, December 6th. The Goldman Sachs Group boosted their price target on shares of Shopify from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, February 16th. Oppenheimer boosted their price target on shares of Shopify from $45.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, February 16th. Royal Bank of Canada boosted their price target on shares of Shopify from $55.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, February 16th. Finally, Roth Capital raised shares of Shopify from a “neutral” rating to a “buy” rating and boosted their price target for the company from $38.00 to $56.00 in a report on Monday, January 30th. Three equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $47.38.
About Shopify
Shopify, Inc operates a cloud-based commerce platform designed for small and medium-sized businesses. Its software is used by merchants to run business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops. The firm’s platform provides merchants with a single view of business and customers and enables them to manage products and inventory, process orders and payments, build customer relationships and leverage analytics and reporting.
Further Reading
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