R Squared Ltd Takes $128,000 Position in Shopify Inc. (NYSE:SHOP)

R Squared Ltd purchased a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,200 shares of the software maker’s stock, valued at approximately $128,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Baillie Gifford & Co. increased its stake in Shopify by 14.7% during the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after acquiring an additional 8,131,160 shares during the last quarter. FMR LLC increased its position in shares of Shopify by 16.1% during the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after purchasing an additional 5,869,795 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Shopify by 6.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker’s stock valued at $658,248,000 after buying an additional 484,561 shares during the period. National Bank of Canada FI lifted its position in Shopify by 28.0% in the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after buying an additional 1,621,981 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Shopify by 9.6% during the third quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker’s stock worth $432,573,000 after buying an additional 471,280 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of Shopify stock opened at $116.69 on Thursday. The firm’s fifty day simple moving average is $109.65 and its 200-day simple moving average is $87.89. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $120.72. The stock has a market capitalization of $150.77 billion, a price-to-earnings ratio of 109.05, a PEG ratio of 2.24 and a beta of 2.46. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Robert W. Baird raised their price target on Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $130.00 price objective on shares of Shopify in a research note on Wednesday, January 22nd. Cantor Fitzgerald reissued a “neutral” rating and set a $70.00 target price on shares of Shopify in a research note on Monday, October 7th. Finally, The Goldman Sachs Group lifted their target price on Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $100.32.

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.