Diversify Wealth Management LLC Has $6.74 Million Stock Holdings in Shopify Inc. (NYSE:SHOP)

Diversify Wealth Management LLC raised its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.4% in the 4th quarter, HoldingsChannel reports. The fund owned 64,952 shares of the software maker’s stock after acquiring an additional 1,524 shares during the period. Diversify Wealth Management LLC’s holdings in Shopify were worth $6,736,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Baillie Gifford & Co. lifted its stake in shares of Shopify by 14.7% in the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after acquiring an additional 8,131,160 shares during the period. FMR LLC lifted its position in shares of Shopify by 16.1% in the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after purchasing an additional 5,869,795 shares during the period. Mackenzie Financial Corp lifted its position in shares of Shopify by 49.9% in the 2nd quarter. Mackenzie Financial Corp now owns 6,315,028 shares of the software maker’s stock worth $417,386,000 after purchasing an additional 2,102,939 shares during the period. Clearbridge Investments LLC increased its position in shares of Shopify by 54.2% during the second quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock worth $311,404,000 after buying an additional 1,657,251 shares during the period. Finally, National Bank of Canada FI raised its stake in Shopify by 28.0% during the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock worth $593,588,000 after buying an additional 1,621,981 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on SHOP shares. Mizuho upped their price target on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Oppenheimer raised their target price on Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and lifted their target price for the stock from $110.00 to $140.00 in a report on Friday, December 6th. Cantor Fitzgerald restated a “neutral” rating and set a $70.00 price target on shares of Shopify in a report on Monday, October 7th. Finally, DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.31.

Shopify Stock Performance

Shares of Shopify stock opened at $103.25 on Monday. The business’s fifty day simple moving average is $109.39 and its 200 day simple moving average is $85.70. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $120.72. The firm has a market capitalization of $133.41 billion, a P/E ratio of 96.50, a price-to-earnings-growth ratio of 2.18 and a beta of 2.46.

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.