59,800 Shares in Shopify Inc. (NYSE:SHOP) Acquired by XTX Topco Ltd

Key Points

• XTX Topco Ltd has acquired a new stake in Shopify Inc., purchasing 59,800 shares valued at approximately $5.71 million.
• Several hedge funds increased their positions in Shopify, with institutional investors and hedge funds now owning 69.27% of the stock.
• Analysts have responded positively to Shopify, with multiple upgrades and a consensus average rating of "Moderate Buy" and a target price of $120.34.

XTX Topco Ltd purchased a new position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 59,800 shares of the software maker's stock, valued at approximately $5,710,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Allianz SE bought a new stake in Shopify during the 4th quarter valued at $27,000. Fourth Dimension Wealth LLC bought a new stake in Shopify during the 4th quarter valued at $30,000. Strategic Investment Solutions Inc. IL bought a new stake in Shopify during the 4th quarter valued at $46,000. N.E.W. Advisory Services LLC bought a new stake in Shopify during the 1st quarter valued at $49,000. Finally, FWL Investment Management LLC bought a new stake in Shopify during the 4th quarter valued at $56,000. Institutional investors and hedge funds own 69.27% of the company's stock.

Shopify Stock Down 0.7%

Shares of SHOP stock traded down $0.80 during trading on Thursday, hitting $122.21. The company had a trading volume of 8,481,536 shares, compared to its average volume of 10,365,797. The stock's 50-day moving average is $113.18 and its two-hundred day moving average is $106.30. The stock has a market capitalization of $158.55 billion, a price-to-earnings ratio of 78.85, a price-to-earnings-growth ratio of 4.82 and a beta of 2.61. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Mizuho decreased their price target on shares of Shopify from $110.00 to $85.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group reduced their target price on shares of Shopify from $150.00 to $130.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Stifel Nicolaus upped their target price on shares of Shopify from $100.00 to $110.00 and gave the stock a "hold" rating in a research note on Tuesday, July 15th. Royal Bank Of Canada upped their target price on shares of Shopify from $125.00 to $145.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Finally, Morgan Stanley upped their target price on shares of Shopify from $106.00 to $112.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, eighteen have given a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $120.34.

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.