Rockefeller Capital Management L.P. Has $12.91 Million Stock Position in Shopify Inc. (NYSE:SHOP)

Rockefeller Capital Management L.P. lessened its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 30.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 161,059 shares of the software maker’s stock after selling 69,813 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Shopify were worth $12,907,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SHOP. EverSource Wealth Advisors LLC lifted its holdings in Shopify by 73.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,439 shares of the software maker’s stock valued at $171,000 after purchasing an additional 1,032 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Shopify during the 2nd quarter worth about $39,000. Mather Group LLC. grew its stake in Shopify by 2,216.7% in the 2nd quarter. Mather Group LLC. now owns 2,085 shares of the software maker’s stock valued at $138,000 after buying an additional 1,995 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in Shopify by 10.6% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 37,972 shares of the software maker’s stock valued at $2,508,000 after acquiring an additional 3,629 shares during the period. Finally, Kingswood Wealth Advisors LLC lifted its position in Shopify by 31.0% during the second quarter. Kingswood Wealth Advisors LLC now owns 4,314 shares of the software maker’s stock worth $285,000 after acquiring an additional 1,020 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Morgan Stanley increased their target price on Shopify from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Loop Capital lifted their target price on Shopify from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Moffett Nathanson boosted their target price on shares of Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Truist Financial raised their price target on shares of Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group boosted their price objective on shares of Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and an average target price of $95.84.

Shopify Stock Performance

Shopify stock opened at $112.98 on Tuesday. The business has a 50 day moving average of $89.16 and a 200-day moving average of $74.06. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $116.35. The company has a market capitalization of $145.98 billion, a P/E ratio of 105.59, a P/E/G ratio of 3.04 and a beta of 2.36.

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.