Shopify Inc. (NYSE:SHOP) Shares Bought by West Family Investments Inc.

West Family Investments Inc. increased its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 14.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,097 shares of the software maker’s stock after buying an additional 762 shares during the period. West Family Investments Inc.’s holdings in Shopify were worth $489,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital World Investors lifted its position in Shopify by 26.2% during the first quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock valued at $3,840,332,000 after buying an additional 10,340,040 shares in the last quarter. Baillie Gifford & Co. grew its stake in Shopify by 14.7% during the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after buying an additional 8,131,160 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Shopify by 21.2% in the first 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 purchasing an additional 5,982,434 shares during the period. Mackenzie Financial Corp raised its position in shares of Shopify by 49.9% during the second quarter. Mackenzie Financial Corp now owns 6,315,028 shares of the software maker’s stock worth $417,386,000 after purchasing an additional 2,102,939 shares during the period. Finally, Toronto Dominion Bank increased its position in shares of Shopify by 214.5% in the first quarter. Toronto Dominion Bank now owns 2,909,052 shares of the software maker’s stock worth $224,492,000 after acquiring an additional 1,983,996 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Benchmark reissued a “hold” rating on shares of Shopify in a research report on Tuesday, August 6th. JPMorgan Chase & Co. lifted their price objective on Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Citigroup upped their price target on shares of Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Evercore ISI raised their price objective on shares of Shopify from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, Wells Fargo & Company boosted their target price on Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $94.95.

Shopify Price Performance

Shares of NYSE SHOP opened at $103.80 on Tuesday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $115.62. The stock has a market capitalization of $133.94 billion, a P/E ratio of 98.97, a P/E/G ratio of 3.45 and a beta of 2.36. The company’s 50-day moving average is $82.73 and its 200 day moving average is $71.27. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.10 and a quick ratio of 7.10.

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.