Swiss National Bank Has $293.51 Million Stock Holdings in Shopify Inc. (NYSE:SHOP)

Swiss National Bank grew its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,657,800 shares of the software maker’s stock after buying an additional 33,300 shares during the period. Swiss National Bank’s holdings in Shopify were worth $293,507,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. GQG Partners LLC grew its stake in Shopify by 197.9% in the first quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock valued at $1,613,006,000 after acquiring an additional 13,885,473 shares during the period. Capital World Investors grew its stake in Shopify by 26.2% in 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 acquiring an additional 10,340,040 shares during the period. Baillie Gifford & Co. grew its stake in Shopify by 14.7% in the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after acquiring an additional 8,131,160 shares during the period. Price T Rowe Associates Inc. MD grew its stake 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 valued at $2,642,265,000 after acquiring an additional 5,982,434 shares during the period. Finally, Mackenzie Financial Corp grew its stake in Shopify by 49.9% in the second quarter. Mackenzie Financial Corp now owns 6,315,028 shares of the software maker’s stock valued at $417,386,000 after acquiring an additional 2,102,939 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SHOP shares. Scotiabank raised their price objective on Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. raised their price objective on Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. KeyCorp raised their target price on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday. Argus upgraded Shopify to a “strong-buy” rating in a report on Thursday, August 8th. Finally, Wedbush restated a “neutral” rating and issued a $115.00 target price (up previously from $72.00) on shares of Shopify in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.95.

Shopify Price Performance

Shares of NYSE SHOP opened at $108.49 on Friday. The firm has a market capitalization of $139.99 billion, a P/E ratio of 101.39, a P/E/G ratio of 3.45 and a beta of 2.36. The company has a quick ratio of 7.32, a current ratio of 7.10 and a debt-to-equity ratio of 0.10. The stock’s 50-day simple moving average is $81.97 and its two-hundred day simple moving average is $71.02. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $115.62.

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.