Shopify Sees Unusually High Options Volume (NYSE:SHOP)

Shopify Inc. (NYSE:SHOP - Get Free Report) TSE: SHOP was the target of some unusual options trading on Friday. Stock traders purchased 93,858 call options on the company. This represents an increase of 67% compared to the average volume of 56,062 call options.

Analysts Set New Price Targets

SHOP has been the topic of a number of analyst reports. Canaccord Genuity Group upped their price target on Shopify from $80.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft upped their price target on Shopify from $80.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, August 8th. Roth Mkm upped their price target on Shopify from $77.00 to $79.00 and gave the company a "buy" rating in a research report on Thursday, August 8th. KeyCorp upped their price target on Shopify from $80.00 to $130.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. Finally, Mizuho upped their price target on Shopify from $68.00 to $105.00 and gave the company a "neutral" rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Shopify presently has an average rating of "Moderate Buy" and an average target price of $95.84.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Oliver Lagore Vanvalin Investment Group boosted its position in Shopify by 100.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker's stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Shopify in the third quarter valued at approximately $33,000. Rosenberg Matthew Hamilton lifted its position in shares of Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker's stock valued at $36,000 after buying an additional 133 shares during the last quarter. Cultivar Capital Inc. acquired a new stake in shares of Shopify in the second quarter valued at approximately $33,000. Finally, Hazlett Burt & Watson Inc. acquired a new stake in shares of Shopify in the second quarter valued at approximately $33,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Up 2.7 %

Shares of NYSE:SHOP traded up $3.06 during mid-day trading on Friday, reaching $115.60. 6,178,258 shares of the stock were exchanged, compared to its average volume of 9,300,938. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The company has a market cap of $149.37 billion, a P/E ratio of 108.04, a P/E/G ratio of 2.96 and a beta of 2.36. Shopify has a one year low of $48.56 and a one year high of $116.35. The stock's 50 day simple moving average is $89.16 and its 200-day simple moving average is $73.96.

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.