Shopify Inc. (NYSE:SHOP) Stock Holdings Lifted by Douglass Winthrop Advisors LLC

Douglass Winthrop Advisors LLC lifted its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Centaurus Financial Inc. acquired a new stake in Shopify during the 3rd quarter worth about $104,000. Baltimore Washington Financial Advisors Inc. boosted its holdings in shares of Shopify by 2.2% during the third quarter. Baltimore Washington Financial Advisors Inc. now owns 82,641 shares of the software maker’s stock worth $6,623,000 after purchasing an additional 1,800 shares during the period. Cerity Partners LLC grew its position in Shopify by 35.8% during the third quarter. Cerity Partners LLC now owns 85,993 shares of the software maker’s stock valued at $6,891,000 after purchasing an additional 22,667 shares in the last quarter. Great Valley Advisor Group Inc. increased its stake in Shopify by 16.2% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 13,966 shares of the software maker’s stock valued at $1,119,000 after buying an additional 1,952 shares during the period. Finally, Meridian Wealth Management LLC increased its stake in Shopify by 24.1% in the 3rd quarter. Meridian Wealth Management LLC now owns 115,781 shares of the software maker’s stock valued at $9,279,000 after buying an additional 22,502 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

Shares of SHOP stock opened at $106.96 on Monday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $115.62. 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 firm’s 50 day moving average is $85.50 and its 200-day moving average is $72.18. The firm has a market capitalization of $138.02 billion, a price-to-earnings ratio of 99.96, a PEG ratio of 2.81 and a beta of 2.36.

Analysts Set New Price Targets

A number of research firms recently issued reports on SHOP. Wedbush reissued a “neutral” rating and set a $115.00 price objective (up previously from $72.00) on shares of Shopify in a research report on Tuesday, November 12th. Morgan Stanley upped their target price on Shopify from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Truist Financial raised their price target on Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday, November 13th. Benchmark restated a “hold” rating on shares of Shopify in a research note on Tuesday, August 6th. Finally, Evercore increased their target price on shares of Shopify from $75.00 to $80.00 in a research note on Thursday, August 8th. One research 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $94.95.

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.