3,859 Shares in Shopify Inc. (NYSE:SHOP) Bought by True Vision MN LLC

True Vision MN LLC bought a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,859 shares of the software maker’s stock, valued at approximately $410,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Jennison Associates LLC purchased a new position in Shopify in the 4th quarter worth about $132,323,000. Swiss National Bank raised its stake in shares of Shopify by 0.9% during the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock valued at $293,507,000 after acquiring an additional 33,300 shares in the last quarter. Watts Gwilliam & Co. LLC boosted its holdings in shares of Shopify by 53.0% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after purchasing an additional 4,641 shares during the period. Teachers Retirement System of The State of Kentucky grew its stake in Shopify by 29.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock worth $27,409,000 after purchasing an additional 77,500 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in Shopify by 26.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock worth $2,693,000 after purchasing an additional 7,027 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Up 2.1 %

Shopify stock opened at $119.88 on Tuesday. The company has a market capitalization of $154.89 billion, a PE ratio of 112.04, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $123.41. The firm has a 50 day moving average price of $110.91 and a 200 day moving average price of $90.95.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SHOP shares. Atb Cap Markets cut shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Oppenheimer boosted their target price on shares of Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Truist Financial raised their price target on shares of Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $130.00 target price on shares of Shopify in a research report on Wednesday, January 22nd. Finally, KeyCorp increased their price target on shares of Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.74.

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.