World Investment Advisors LLC Acquires 6,776 Shares of Shopify Inc. (NYSE:SHOP)

World Investment Advisors LLC increased its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 113.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,751 shares of the software maker’s stock after acquiring an additional 6,776 shares during the period. World Investment Advisors LLC’s holdings in Shopify were worth $1,022,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Blue Trust Inc. increased its holdings in Shopify by 928.8% in the 2nd quarter. Blue Trust Inc. now owns 2,788 shares of the software maker’s stock worth $184,000 after buying an additional 2,517 shares in the last quarter. Brookstone Capital Management grew its position in Shopify by 26.0% in the 2nd quarter. Brookstone Capital Management now owns 9,632 shares of the software maker’s stock valued at $624,000 after acquiring an additional 1,986 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Shopify by 7.0% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 418,878 shares of the software maker’s stock valued at $27,667,000 after acquiring an additional 27,562 shares in the last quarter. Parsons Capital Management Inc. RI bought a new stake in shares of Shopify in the 2nd quarter valued at about $259,000. Finally, First Horizon Advisors Inc. lifted its stake in shares of Shopify by 8.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 5,831 shares of the software maker’s stock worth $385,000 after purchasing an additional 441 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Down 0.6 %

Shares of NYSE SHOP opened at $114.63 on Monday. The stock has a market capitalization of $148.11 billion, a PE ratio of 107.13, a P/E/G ratio of 2.98 and a beta of 2.46. 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 firm has a fifty day moving average of $96.14 and a 200-day moving average of $78.06. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $120.72.

Analyst Ratings Changes

Several research firms recently issued reports on SHOP. KeyCorp upped their target price on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Scotiabank raised their price target on shares of Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, October 24th. Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and lifted their target price for the stock from $110.00 to $140.00 in a research note on Friday, December 6th. Canaccord Genuity Group upped their price target on Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Robert W. Baird boosted their target price on shares of Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $99.03.

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.