Newbridge Financial Services Group Inc. Acquires 310 Shares of Shopify Inc. (NYSE:SHOP)

Newbridge Financial Services Group Inc. boosted its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,302 shares of the software maker’s stock after acquiring an additional 310 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Shopify were worth $670,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Jennison Associates LLC acquired a new position in shares of Shopify during the fourth quarter worth $132,323,000. Swiss National Bank grew its holdings in Shopify by 0.9% during the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock worth $293,507,000 after acquiring an additional 33,300 shares during the period. Watts Gwilliam & Co. LLC increased its holdings in shares of Shopify by 53.0% during the 4th 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 in the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in Shopify by 29.3% during 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 buying an additional 77,500 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in Shopify by 26.4% in the third quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock valued at $2,693,000 after buying an additional 7,027 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of SHOP opened at $117.33 on Friday. The stock has a 50-day simple moving average of $110.91 and a 200-day simple moving average of $90.53. 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 1 year low of $48.56 and a 1 year high of $122.81. The stock has a market capitalization of $151.60 billion, a PE ratio of 109.65, a PEG ratio of 2.49 and a beta of 2.47.

Analysts Set New Price Targets

SHOP has been the subject of several recent analyst reports. The Goldman Sachs Group lifted their price target on Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Wells Fargo & Company increased their price objective on shares of Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Moffett Nathanson raised their price target on shares of Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and raised their target price for the company from $110.00 to $140.00 in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and a consensus price target of $100.32.

Shopify Company 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.