Shopify Inc. (NYSE:SHOP) is Weaver Capital Management LLC’s 10th Largest Position

Weaver Capital Management LLC increased its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,185 shares of the software maker’s stock after purchasing an additional 2,999 shares during the period. Shopify accounts for about 1.6% of Weaver Capital Management LLC’s holdings, making the stock its 10th biggest holding. Weaver Capital Management LLC’s holdings in Shopify were worth $5,655,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in Shopify by 73.5% in the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock worth $48,000 after buying an additional 253 shares in the last quarter. Aprio Wealth Management LLC acquired a new stake in shares of Shopify in the 3rd quarter valued at about $236,000. Kesler Norman & Wride LLC raised its stake in shares of Shopify by 1.9% in the 3rd quarter. Kesler Norman & Wride LLC now owns 9,538 shares of the software maker’s stock valued at $764,000 after purchasing an additional 180 shares in the last quarter. Alpha Cubed Investments LLC raised its stake in shares of Shopify by 30.7% in the 3rd quarter. Alpha Cubed Investments LLC now owns 8,627 shares of the software maker’s stock valued at $691,000 after purchasing an additional 2,028 shares in the last quarter. Finally, Axiom Advisory LLC raised its stake in shares of Shopify by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 10,880 shares of the software maker’s stock valued at $872,000 after purchasing an additional 170 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Up 4.3 %

Shares of NYSE:SHOP opened at $119.31 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The company has a market cap of $154.16 billion, a PE ratio of 111.50, a price-to-earnings-growth ratio of 2.46 and a beta of 2.47. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $122.00. The firm has a 50 day simple moving average of $110.42 and a 200 day simple moving average of $89.33.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SHOP. Atb Cap Markets lowered shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Canaccord Genuity Group increased their price objective on shares of Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. KeyCorp increased their price objective on shares of Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Finally, Wells Fargo & Company increased their price objective on shares of Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.