WINTON GROUP Ltd Invests $4.95 Million in Shopify Inc. $SHOP

Key Points

• WINTON GROUP Ltd acquired a new stake in Shopify of 33,300 shares in Q3, valued at approximately $4.95 million.
• Schroder Investment Management raised its Shopify stake by 333.2% to 345,966 shares (about $51.55 million), and institutional investors collectively own roughly 69.27% of the company.
• Analysts have a consensus rating of Moderate Buy with a consensus price target of $163.33, and multiple firms have set targets in the $150–$160 range.

WINTON GROUP Ltd acquired a new stake in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 33,300 shares of the software maker's stock, valued at approximately $4,949,000.

Several other hedge funds have also added to or reduced their stakes in the business. Schroder Investment Management Group raised its stake in Shopify by 333.2% during the 3rd quarter. Schroder Investment Management Group now owns 345,966 shares of the software maker's stock worth $51,549,000 after buying an additional 266,100 shares during the period. Gerber Kawasaki Wealth & Investment Management grew its stake in Shopify by 1.1% in the third quarter. Gerber Kawasaki Wealth & Investment Management now owns 42,565 shares of the software maker's stock valued at $6,326,000 after acquiring an additional 481 shares during the period. Certified Advisory Corp bought a new stake in shares of Shopify in the third quarter worth about $212,000. PFG Advisors increased its holdings in shares of Shopify by 7.2% in the third quarter. PFG Advisors now owns 10,788 shares of the software maker's stock worth $1,603,000 after acquiring an additional 720 shares in the last quarter. Finally, Goodman Advisory Group LLC raised its position in shares of Shopify by 16,980.9% during the third quarter. Goodman Advisory Group LLC now owns 18,789 shares of the software maker's stock worth $2,792,000 after purchasing an additional 18,679 shares during the period. Institutional investors and hedge funds own 69.27% of the company's stock.

Analyst Ratings Changes

SHOP has been the topic of several recent analyst reports. Truist Financial set a $150.00 price objective on Shopify and gave the company a "buy" rating in a report on Tuesday, February 17th. Robert W. Baird set a $160.00 target price on Shopify in a research note on Thursday, February 12th. BNP Paribas Exane assumed coverage on shares of Shopify in a report on Monday, November 24th. They set a "neutral" rating on the stock. BMO Capital Markets set a $160.00 price target on shares of Shopify in a research note on Thursday, February 12th. Finally, Moffett Nathanson upgraded shares of Shopify from a "neutral" rating to a "buy" rating and set a $150.00 price target for the company in a report on Monday, February 9th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Shopify presently has a consensus rating of "Moderate Buy" and a consensus price target of $163.33.

Shopify Stock Performance

NASDAQ:SHOP opened at $133.50 on Tuesday. The company has a market cap of $173.80 billion, a PE ratio of 143.55, a PEG ratio of 4.67 and a beta of 2.83. Shopify Inc. has a 52-week low of $69.84 and a 52-week high of $182.19. The stock has a 50-day simple moving average of $136.61 and a 200 day simple moving average of $149.12.

About Shopify

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.