Quilter Plc Makes New Investment in Shopify Inc. (NYSE:SHOP)

Quilter Plc acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 2,015 shares of the software maker’s stock, valued at approximately $214,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Ferguson Wellman Capital Management Inc. purchased a new position in shares of Shopify in the 4th quarter valued at approximately $261,000. Compass Financial Services Inc acquired a new stake in shares of Shopify during the 4th quarter worth approximately $74,000. Newbridge Financial Services Group Inc. grew its stake in shares of Shopify by 5.2% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 6,302 shares of the software maker’s stock worth $670,000 after purchasing an additional 310 shares during the period. Moser Wealth Advisors LLC grew its stake in shares of Shopify by 2.9% during the 4th quarter. Moser Wealth Advisors LLC now owns 9,699 shares of the software maker’s stock worth $1,031,000 after purchasing an additional 275 shares during the period. Finally, Stephens Inc. AR grew its stake in shares of Shopify by 0.8% during the 4th quarter. Stephens Inc. AR now owns 48,075 shares of the software maker’s stock worth $5,112,000 after purchasing an additional 404 shares during the period. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Price Performance

NYSE SHOP opened at $117.33 on Monday. Shopify Inc. has a one year low of $48.56 and a one year high of $122.81. The stock has a 50-day moving average of $110.91 and a 200 day moving average of $90.72. The company has a market capitalization of $151.60 billion, a price-to-earnings ratio of 109.65, a PEG ratio of 2.49 and a beta of 2.47. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SHOP shares. Atb Cap Markets cut shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Piper Sandler lifted their price target on shares of Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Barclays lifted their price target on shares of Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group lifted their price target on shares of Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $130.00 price objective on shares of Shopify in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $100.32.

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.