Shopify Inc. (NYSE:SHOP) Stock Position Raised by Watts Gwilliam & Co. LLC

Watts Gwilliam & Co. LLC increased its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 53.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,401 shares of the software maker's stock after buying an additional 4,641 shares during the period. Watts Gwilliam & Co. LLC's holdings in Shopify were worth $1,431,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in shares of Shopify by 78.7% in the 2nd quarter. Victory Capital Management Inc. now owns 147,285 shares of the software maker's stock worth $9,728,000 after purchasing an additional 64,856 shares during the last quarter. Private Advisor Group LLC increased its position in shares of Shopify by 105.6% in the 2nd quarter. Private Advisor Group LLC now owns 56,976 shares of the software maker's stock worth $3,763,000 after purchasing an additional 29,261 shares during the last quarter. Savant Capital LLC increased its position in shares of Shopify by 44.5% in the 2nd quarter. Savant Capital LLC now owns 15,234 shares of the software maker's stock worth $1,006,000 after purchasing an additional 4,692 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Shopify by 90.9% in the 2nd quarter. Acadian Asset Management LLC now owns 56,463 shares of the software maker's stock worth $3,727,000 after purchasing an additional 26,885 shares during the last quarter. Finally, Choreo LLC increased its position in shares of Shopify by 76.1% in the 2nd quarter. Choreo LLC now owns 20,285 shares of the software maker's stock worth $1,313,000 after purchasing an additional 8,763 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.

Shopify Trading Down 3.5 %

Shares of NYSE:SHOP traded down $3.73 during mid-day trading on Friday, hitting $103.91. The stock had a trading volume of 8,964,123 shares, compared to its average volume of 5,795,767. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The company has a market cap of $134.26 billion, a PE ratio of 97.11, a P/E/G ratio of 2.98 and a beta of 2.46. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $120.72. The company's 50 day moving average is $107.35 and its 200-day moving average is $84.27.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SHOP shares. New Street Research assumed coverage on shares of Shopify in a research report on Friday. They issued a "neutral" rating and a $115.00 target price for the company. Atb Cap Markets lowered shares of Shopify from a "strong-buy" rating to a "hold" rating in a report on Tuesday, November 12th. Royal Bank of Canada lifted their price target on shares of Shopify from $100.00 to $130.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Wells Fargo & Company lifted their price target on shares of Shopify from $90.00 to $120.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Finally, Piper Sandler lifted their price target on shares of Shopify from $67.00 to $94.00 and gave the company a "neutral" rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Shopify has a consensus rating of "Moderate Buy" and a consensus price target of $100.31.

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.