Shopify Inc. (NYSE:SHOP) Shares Purchased by Quilter Plc

Quilter Plc boosted its stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 201.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,065 shares of the software maker's stock after purchasing an additional 4,050 shares during the quarter. Quilter Plc's holdings in Shopify were worth $579,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SHOP. Norges Bank acquired a new position in shares of Shopify during the fourth quarter worth $1,542,262,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Shopify by 79.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker's stock valued at $1,752,834,000 after acquiring an additional 7,316,862 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Shopify by 631.3% during the fourth quarter. Alliancebernstein L.P. now owns 4,459,580 shares of the software maker's stock worth $474,187,000 after purchasing an additional 3,849,796 shares during the last quarter. Marshall Wace LLP lifted its position in Shopify by 623.8% during the 4th quarter. Marshall Wace LLP now owns 1,870,891 shares of the software maker's stock worth $198,932,000 after acquiring an additional 2,228,091 shares during the period. Finally, Durable Capital Partners LP grew its stake in shares of Shopify by 86.9% in the 4th quarter. Durable Capital Partners LP now owns 3,950,348 shares of the software maker's stock valued at $420,041,000 after purchasing an additional 1,836,294 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SHOP shares. UBS Group cut their price target on Shopify from $125.00 to $110.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Cantor Fitzgerald restated a "neutral" rating and set a $91.00 price objective on shares of Shopify in a research report on Wednesday, June 11th. DA Davidson raised their target price on shares of Shopify from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. BMO Capital Markets started coverage on shares of Shopify in a report on Tuesday, May 6th. They issued an "outperform" rating and a $120.00 target price on the stock. Finally, BNP Paribas lowered shares of Shopify from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 5th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.66.

Shopify Stock Performance

Shopify stock opened at $113.07 on Friday. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The company has a market capitalization of $146.69 billion, a price-to-earnings ratio of 72.95, a PEG ratio of 4.82 and a beta of 2.63. The stock has a fifty day moving average of $103.08 and a two-hundred day moving average of $104.80.

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.

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