National Bank of Canada FI Grows Holdings in Shopify Inc. (NYSE:SHOP)

National Bank of Canada FI boosted its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 28.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 7,408,880 shares of the software maker’s stock after purchasing an additional 1,621,981 shares during the period. Shopify makes up 0.7% of National Bank of Canada FI’s investment portfolio, making the stock its 20th largest holding. National Bank of Canada FI owned about 0.57% of Shopify worth $593,588,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of SHOP. CWM LLC raised its stake in shares of Shopify by 3.6% during the second quarter. CWM LLC now owns 12,265 shares of the software maker’s stock worth $810,000 after purchasing an additional 429 shares during the last quarter. Csenge Advisory Group lifted its stake in shares of Shopify by 7.7% in the 2nd quarter. Csenge Advisory Group now owns 3,834 shares of the software maker’s stock worth $253,000 after acquiring an additional 273 shares during the period. Capital Investment Advisors LLC boosted its holdings in shares of Shopify by 78.4% in the second quarter. Capital Investment Advisors LLC now owns 5,557 shares of the software maker’s stock valued at $367,000 after acquiring an additional 2,442 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Shopify during the second quarter worth about $84,000. Finally, Hexagon Capital Partners LLC raised its holdings in Shopify by 49.4% during the second quarter. Hexagon Capital Partners LLC now owns 931 shares of the software maker’s stock worth $61,000 after purchasing an additional 308 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Trading Up 3.7 %

NYSE:SHOP opened at $118.37 on Friday. The business’s 50-day moving average is $91.80 and its two-hundred day moving average is $75.37. The firm has a market capitalization of $152.94 billion, a PE ratio of 110.62, a price-to-earnings-growth ratio of 2.97 and a beta of 2.46. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $120.72. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SHOP shares. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $70.00 price objective on shares of Shopify in a report on Monday, October 7th. Scotiabank upped their price target on shares of Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 24th. DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Oppenheimer upped their target price on shares of Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Citigroup lifted their price target on shares of Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Shopify has an average rating of “Moderate Buy” and a consensus price target of $98.08.

Shopify 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.