Shopify Inc. (NYSE:SHOP) Shares Purchased by Ashton Thomas Securities LLC

Ashton Thomas Securities LLC raised its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 10.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,855 shares of the software maker’s stock after purchasing an additional 834 shares during the quarter. Ashton Thomas Securities LLC’s holdings in Shopify were worth $710,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Capital World Investors increased its stake in Shopify by 26.2% in the 1st quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock valued at $3,840,332,000 after buying an additional 10,340,040 shares during the period. Vanguard Group Inc. increased its stake in shares of Shopify by 1.7% during the first quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock worth $3,309,154,000 after acquiring an additional 713,064 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Shopify by 21.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock worth $2,642,265,000 after purchasing an additional 5,982,434 shares in the last quarter. GQG Partners LLC lifted its position in Shopify by 197.9% in the first quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock valued at $1,613,006,000 after purchasing an additional 13,885,473 shares during the period. Finally, Capital International Investors boosted its holdings in Shopify by 3.4% in the 1st quarter. Capital International Investors now owns 16,392,141 shares of the software maker’s stock valued at $1,264,982,000 after purchasing an additional 542,503 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Up 3.3 %

Shares of NYSE:SHOP opened at $89.99 on Tuesday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $92.16. The stock has a 50-day simple moving average of $78.41 and a 200-day simple moving average of $69.79. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32. The stock has a market capitalization of $116.12 billion, a P/E ratio of 91.83, a PEG ratio of 2.91 and a beta of 2.36.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SHOP. Citigroup raised their price target on Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a report on Monday, September 30th. Wolfe Research assumed coverage on Shopify in a report on Tuesday, July 16th. They issued an “outperform” rating and a $80.00 target price for the company. Deutsche Bank Aktiengesellschaft increased their price target on shares of Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, August 8th. DZ Bank downgraded shares of Shopify from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Finally, Royal Bank of Canada increased their target price on shares of Shopify from $85.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $81.03.

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.