Shopify Inc. (NYSE:SHOP) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P cut its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,083,210 shares of the software maker’s stock after selling 442,553 shares during the period. Shopify comprises about 1.6% of Loomis Sayles & Co. L P’s holdings, making the stock its 17th largest position. Loomis Sayles & Co. L P’s holdings in Shopify were worth $1,208,768,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SHOP. Gamco Investors INC. ET AL acquired a new position in shares of Shopify in the 1st quarter valued at $207,000. BOKF NA boosted its stake in Shopify by 6.3% in the first quarter. BOKF NA now owns 5,722 shares of the software maker’s stock valued at $447,000 after acquiring an additional 337 shares in the last quarter. Silvercrest Asset Management Group LLC grew its holdings in shares of Shopify by 735.0% during the first quarter. Silvercrest Asset Management Group LLC now owns 52,928 shares of the software maker’s stock worth $4,084,000 after purchasing an additional 46,589 shares during the last quarter. Ancora Advisors LLC increased its position in shares of Shopify by 3.9% during the first quarter. Ancora Advisors LLC now owns 14,560 shares of the software maker’s stock worth $1,124,000 after purchasing an additional 550 shares in the last quarter. Finally, Beacon Capital Management LLC increased its position in shares of Shopify by 20.8% during the first quarter. Beacon Capital Management LLC now owns 2,937 shares of the software maker’s stock worth $227,000 after purchasing an additional 506 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SHOP has been the subject of a number of research analyst reports. Canaccord Genuity Group upped their target price on Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Oppenheimer raised their target price on shares of Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Wedbush reiterated a “neutral” rating and issued a $115.00 price target (up previously from $72.00) on shares of Shopify in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Shopify from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, Evercore ISI lifted 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. One 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 given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.95.

Shopify Stock Up 0.5 %

Shares of NYSE:SHOP opened at $106.96 on Monday. The company has a market capitalization of $138.02 billion, a P/E ratio of 99.96, a P/E/G ratio of 2.81 and a beta of 2.36. The stock’s fifty day simple moving average is $85.50 and its 200-day simple moving average is $72.18. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $115.62. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09.

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.