Atomi Financial Group Inc. Has $2.26 Million Position in Shopify Inc. (NYSE:SHOP)

Atomi Financial Group Inc. grew its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 36.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,211 shares of the software maker’s stock after purchasing an additional 5,656 shares during the period. Atomi Financial Group Inc.’s holdings in Shopify were worth $2,255,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Baillie Gifford & Co. boosted its holdings in shares of Shopify by 14.7% in the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after buying an additional 8,131,160 shares during the period. FMR LLC boosted its position in shares of Shopify by 16.1% during the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after buying an additional 5,869,795 shares during the period. Mackenzie Financial Corp boosted its position in shares of Shopify by 49.9% during the second quarter. Mackenzie Financial Corp now owns 6,315,028 shares of the software maker’s stock worth $417,386,000 after buying an additional 2,102,939 shares during the period. Clearbridge Investments LLC lifted its stake in Shopify by 54.2% in the 2nd quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock valued at $311,404,000 after acquiring an additional 1,657,251 shares in the last quarter. Finally, National Bank of Canada FI raised its position in Shopify by 28.0% during the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock worth $593,588,000 after acquiring an additional 1,621,981 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SHOP shares. Piper Sandler increased their target price on shares of Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. The Goldman Sachs Group lifted their price target on shares of Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Truist Financial raised their price objective on Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. Wedbush raised shares of Shopify from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $115.00 to $125.00 in a research note on Monday, January 6th. Finally, Wells Fargo & Company increased their price target on Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has given 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 target price of $100.31.

Shopify Stock Performance

Shares of NYSE:SHOP opened at $103.25 on Tuesday. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $133.41 billion, a price-to-earnings ratio of 96.50, a PEG ratio of 2.17 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 firm’s 50-day moving average is $109.65 and its 200 day moving average is $86.09.

About Shopify

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.