Dixon Mitchell Investment Counsel Inc. Has $21.62 Million Stake in Shopify Inc. (NYSE:SHOP)

Dixon Mitchell Investment Counsel Inc. increased its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 203,279 shares of the software maker’s stock after purchasing an additional 752 shares during the quarter. Dixon Mitchell Investment Counsel Inc.’s holdings in Shopify were worth $21,624,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in SHOP. Sunbelt Securities Inc. grew its stake in shares of Shopify by 0.7% in the third quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock valued at $1,162,000 after acquiring an additional 105 shares in the last quarter. Redhawk Wealth Advisors Inc. boosted its holdings in Shopify by 3.3% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock valued at $357,000 after purchasing an additional 107 shares during the period. Moser Wealth Advisors LLC grew its position in shares of Shopify by 1.4% during the 3rd quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock worth $755,000 after purchasing an additional 128 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of Shopify by 7.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock worth $159,000 after purchasing an additional 129 shares during the period. Finally, Rosenberg Matthew Hamilton raised its position in shares of Shopify by 28.8% in the fourth quarter. Rosenberg Matthew Hamilton now owns 586 shares of the software maker’s stock valued at $62,000 after buying an additional 131 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Up 0.4 %

SHOP opened at $104.61 on Thursday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $120.72. 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’s 50-day moving average price is $108.26 and its two-hundred day moving average price is $85.04. The stock has a market cap of $135.17 billion, a price-to-earnings ratio of 97.77, a PEG ratio of 2.18 and a beta of 2.46.

Analysts Set New Price Targets

Several equities analysts have weighed in on SHOP shares. Wedbush raised Shopify from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $115.00 to $125.00 in a report on Monday, January 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $70.00 price target on shares of Shopify in a research note on Monday, October 7th. Wells Fargo & Company increased their price objective on shares of Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Barclays boosted their target price on shares of Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Finally, Atb Cap Markets lowered shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $100.31.

About Shopify

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.