Baader Bank Aktiengesellschaft Lowers Stock Holdings in Shopify Inc. (NYSE:SHOP)

Baader Bank Aktiengesellschaft lowered its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 58.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,658 shares of the software maker’s stock after selling 3,808 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Shopify were worth $283,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of SHOP. Baillie Gifford & Co. grew its position in shares of Shopify by 14.7% during the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after purchasing an additional 8,131,160 shares in the last quarter. FMR LLC grew its holdings in Shopify by 16.1% during the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after buying an additional 5,869,795 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Shopify by 6.3% during the third quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker’s stock valued at $658,248,000 after buying an additional 484,561 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of Shopify by 28.0% in the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock worth $593,588,000 after buying an additional 1,621,981 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Shopify by 9.6% during the third quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker’s stock worth $432,573,000 after acquiring an additional 471,280 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SHOP. Oppenheimer lifted their price target on shares of Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Canaccord Genuity Group boosted their target price on Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Truist Financial increased their price objective on shares of Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday, November 13th. KeyCorp upped their price objective on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Finally, DZ Bank cut Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $100.32.

Shopify Stock Performance

Shares of SHOP stock opened at $119.23 on Friday. The firm has a market cap of $154.06 billion, a price-to-earnings ratio of 111.43, a PEG ratio of 2.45 and a beta of 2.46. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $120.72. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The company’s 50 day moving average is $109.91 and its 200 day moving average is $88.09.

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.