Tredje AP fonden Invests $3.72 Million in Shopify Inc. $SHOP

Tredje AP fonden purchased a new position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 25,000 shares of the software maker’s stock, valued at approximately $3,715,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Twin Peaks Wealth Advisors LLC grew its holdings in Shopify by 1.7% in the third quarter. Twin Peaks Wealth Advisors LLC now owns 3,448 shares of the software maker’s stock valued at $512,000 after purchasing an additional 59 shares during the last quarter. Accurate Wealth Management LLC boosted its position in shares of Shopify by 2.0% in the 3rd quarter. Accurate Wealth Management LLC now owns 3,438 shares of the software maker’s stock worth $526,000 after buying an additional 67 shares in the last quarter. Moloney Securities Asset Management LLC grew its stake in Shopify by 1.8% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 3,951 shares of the software maker’s stock valued at $587,000 after acquiring an additional 70 shares during the last quarter. Rothschild Investment LLC grew its stake in Shopify by 47.5% in the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after acquiring an additional 75 shares during the last quarter. Finally, Sivia Capital Partners LLC increased its holdings in Shopify by 0.9% during the 3rd quarter. Sivia Capital Partners LLC now owns 8,265 shares of the software maker’s stock valued at $1,228,000 after acquiring an additional 75 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SHOP has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $175.00 price target on shares of Shopify in a research report on Thursday, February 12th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Shopify in a research note on Wednesday, November 5th. KeyCorp reissued an “overweight” rating and set a $160.00 price target on shares of Shopify in a research report on Wednesday, February 11th. TD Securities upgraded Shopify from a “hold” rating to a “buy” rating and set a $159.00 price objective on the stock in a research report on Thursday, February 12th. Finally, Zacks Research lowered Shopify from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $162.64.

Shopify Trading Up 1.9%

Shares of NASDAQ:SHOP opened at $126.20 on Friday. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $182.19. The stock’s 50-day moving average price is $145.96 and its two-hundred day moving average price is $150.69. The firm has a market cap of $164.29 billion, a price-to-earnings ratio of 135.70, a PEG ratio of 4.60 and a beta of 2.83.

Shopify Company Profile

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.