Chartwell Investment Partners LLC Acquires New Position in Shopify Inc. (NYSE:SHOP)

Chartwell Investment Partners LLC acquired a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 22,795 shares of the software maker’s stock, valued at approximately $1,827,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital World Investors boosted its stake in Shopify by 26.2% during the 1st quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock valued at $3,840,332,000 after purchasing an additional 10,340,040 shares during the period. Vanguard Group Inc. boosted its stake in Shopify by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock valued at $3,309,154,000 after purchasing an additional 713,064 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Shopify by 21.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock worth $2,642,265,000 after acquiring an additional 5,982,434 shares during the period. GQG Partners LLC lifted its stake in shares of Shopify by 197.9% in the 1st quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock worth $1,613,006,000 after acquiring an additional 13,885,473 shares during the period. Finally, Capital International Investors lifted its stake in shares of Shopify by 3.4% in the 1st quarter. Capital International Investors now owns 16,392,141 shares of the software maker’s stock worth $1,264,982,000 after acquiring an additional 542,503 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Trading Up 20.3 %

Shares of SHOP stock opened at $108.24 on Wednesday. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $114.51. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32. The stock has a market capitalization of $139.67 billion, a PE ratio of 110.45, a P/E/G ratio of 2.91 and a beta of 2.36. The business has a 50-day moving average of $78.73 and a 200 day moving average of $69.92.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SHOP. Benchmark reaffirmed a “hold” rating on shares of Shopify in a research note on Tuesday, August 6th. Morgan Stanley upped their price target on shares of Shopify from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Loop Capital upped their price target on shares of Shopify from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Shopify from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Evercore upped their price target on Shopify from $75.00 to $80.00 in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, sixteen have assigned 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, Shopify has a consensus rating of “Moderate Buy” and an average target price of $82.19.

About Shopify

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.