Zurcher Kantonalbank Zurich Cantonalbank Has $35.29 Million Stock Position in Shopify Inc. (NYSE:SHOP)

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 440,375 shares of the software maker’s stock after selling 5,636 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Shopify were worth $35,292,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. iA Global Asset Management Inc. grew its stake in Shopify by 28.3% during the 1st quarter. iA Global Asset Management Inc. now owns 14,155 shares of the software maker’s stock valued at $1,092,000 after acquiring an additional 3,124 shares in the last quarter. Atria Investments Inc increased its stake in Shopify by 9.0% in the 1st quarter. Atria Investments Inc now owns 75,648 shares of the software maker’s stock valued at $5,838,000 after buying an additional 6,244 shares during the period. Cetera Investment Advisers lifted its position in Shopify by 414.8% in the 1st quarter. Cetera Investment Advisers now owns 280,607 shares of the software maker’s stock worth $21,654,000 after buying an additional 226,096 shares in the last quarter. Cetera Advisors LLC boosted its stake in shares of Shopify by 42.5% during the 1st quarter. Cetera Advisors LLC now owns 93,440 shares of the software maker’s stock valued at $7,211,000 after buying an additional 27,885 shares during the period. Finally, Soltis Investment Advisors LLC grew its holdings in shares of Shopify by 16.7% during the 1st quarter. Soltis Investment Advisors LLC now owns 4,238 shares of the software maker’s stock valued at $327,000 after acquiring an additional 607 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Up 0.4 %

Shares of Shopify stock opened at $112.54 on Friday. The firm has a market cap of $145.41 billion, a PE ratio of 105.18, a P/E/G ratio of 2.96 and a beta of 2.36. The business’s 50 day simple moving average is $88.42 and its 200 day simple moving average is $73.45. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $115.62.

Analyst Ratings Changes

SHOP has been the subject of several recent research reports. Loop Capital increased their price objective on Shopify from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Atb Cap Markets downgraded Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Truist Financial boosted their price target on Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, November 13th. Morgan Stanley raised their price objective on shares of Shopify from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Finally, UBS Group boosted their target price on shares of Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.84.

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.