Plato Investment Management Ltd Acquires 9,448 Shares of Shopify Inc. $SHOP

Plato Investment Management Ltd lifted its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 44.2% during the third quarter, HoldingsChannel reports. The firm owned 30,834 shares of the software maker’s stock after acquiring an additional 9,448 shares during the quarter. Plato Investment Management Ltd’s holdings in Shopify were worth $4,548,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SHOP. Brighton Jones LLC raised its holdings in Shopify by 2.8% during the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock worth $2,252,000 after buying an additional 584 shares during the period. AQR Capital Management LLC increased its position in shares of Shopify by 107.3% during the first quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock worth $1,392,000 after acquiring an additional 7,544 shares in the last quarter. Sivia Capital Partners LLC increased its position in shares of Shopify by 6.6% during the second quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock worth $945,000 after acquiring an additional 506 shares in the last quarter. Belpointe Asset Management LLC acquired a new stake in shares of Shopify during the second quarter worth $224,000. Finally, Clear Creek Financial Management LLC lifted its position in Shopify by 6.7% in the 2nd quarter. Clear Creek Financial Management LLC now owns 6,467 shares of the software maker’s stock valued at $746,000 after acquiring an additional 407 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SHOP shares. Benchmark reiterated a “buy” rating on shares of Shopify in a report on Wednesday, December 3rd. National Bankshares increased their price objective on Shopify from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Oppenheimer restated an “outperform” rating on shares of Shopify in a research note on Monday, December 1st. Royal Bank Of Canada set a $200.00 price target on Shopify and gave the stock an “outperform” rating in a research report on Monday, January 26th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Shopify in a report on Monday, December 1st. Twenty-five investment analysts have rated the stock with a Buy rating and eighteen have given a Hold rating to the stock. Based on data from MarketBeat, Shopify has an average rating of “Moderate Buy” and an average price target of $171.70.

Shopify Stock Up 0.7%

Shares of Shopify stock opened at $112.05 on Friday. The stock has a market cap of $145.87 billion, a P/E ratio of 83.00, a P/E/G ratio of 3.30 and a beta of 2.83. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $182.19. The business’s 50 day moving average is $154.35 and its 200-day moving average is $151.05.

About Shopify

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.