Wilmington Savings Fund Society FSB Takes Position in Shopify Inc. (NYSE:SHOP)

Wilmington Savings Fund Society FSB bought a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,679 shares of the software maker’s stock, valued at approximately $615,000.

A number of other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in shares of Shopify by 928.8% during the second quarter. Blue Trust Inc. now owns 2,788 shares of the software maker’s stock valued at $184,000 after acquiring an additional 2,517 shares in the last quarter. Brookstone Capital Management increased its holdings in Shopify by 26.0% during the 2nd quarter. Brookstone Capital Management now owns 9,632 shares of the software maker’s stock worth $624,000 after purchasing an additional 1,986 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Shopify by 7.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 418,878 shares of the software maker’s stock valued at $27,667,000 after purchasing an additional 27,562 shares in the last quarter. Parsons Capital Management Inc. RI purchased a new position in shares of Shopify during the 2nd quarter valued at approximately $259,000. Finally, First Horizon Advisors Inc. grew its position in shares of Shopify by 8.2% during the second quarter. First Horizon Advisors Inc. now owns 5,831 shares of the software maker’s stock worth $385,000 after buying an additional 441 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Trading Down 0.6 %

Shares of SHOP stock opened at $114.63 on Monday. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The stock has a 50-day simple moving average of $96.14 and a 200 day simple moving average of $78.06. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $120.72. The stock has a market capitalization of $148.11 billion, a P/E ratio of 107.13, a P/E/G ratio of 2.98 and a beta of 2.46.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SHOP. JMP Securities reaffirmed a “market outperform” rating and issued a $120.00 price target on shares of Shopify in a report on Thursday. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $70.00 price target on shares of Shopify in a research report on Monday, October 7th. Robert W. Baird boosted their price objective on Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Barclays increased their target price on Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Finally, Canaccord Genuity Group boosted their price target on Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and a consensus price target of $99.03.

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.