GFS Advisors LLC Acquires Shares of 3,077 Shopify Inc. (NYSE:SHOP)

GFS Advisors LLC acquired a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,077 shares of the software maker’s stock, valued at approximately $327,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Baillie Gifford & Co. boosted its holdings in Shopify by 14.7% in the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after purchasing an additional 8,131,160 shares during the last quarter. FMR LLC lifted its holdings 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 valued at $3,389,637,000 after buying an additional 5,869,795 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Shopify by 6.3% in the third quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker’s stock worth $658,248,000 after buying an additional 484,561 shares during the last quarter. National Bank of Canada FI grew its holdings 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 acquiring an additional 1,621,981 shares during the period. Finally, Geode Capital Management LLC raised its position in Shopify by 9.6% during the third quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker’s stock valued at $432,573,000 after acquiring an additional 471,280 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on SHOP. Truist Financial upped their price objective on Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group raised their price target on shares of Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. New Street Research began coverage on shares of Shopify in a research report on Friday, January 10th. They issued a “neutral” rating and a $115.00 price objective for the company. Barclays increased their target price on shares of Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Finally, KeyCorp lifted their price target on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $100.32.

Shopify Price Performance

Shares of SHOP stock opened at $116.70 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The company has a market capitalization of $150.79 billion, a PE ratio of 109.07, a price-to-earnings-growth ratio of 2.45 and a beta of 2.46. The firm’s 50-day moving average is $110.16 and its two-hundred day moving average is $88.30. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $122.00.

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.