Parallel Advisors LLC raised its position in shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 10.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,781 shares of the software maker’s stock after acquiring an additional 174 shares during the period. Parallel Advisors LLC’s holdings in Shopify were worth $555,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Ascent Wealth Partners LLC boosted its holdings in Shopify by 13.8% during the third quarter. Ascent Wealth Partners LLC now owns 5,962 shares of the software maker’s stock valued at $1,858,000 after acquiring an additional 721 shares during the period. Coastal Investment Advisors Inc. lifted its stake in shares of Shopify by 358.3% in the second quarter. Coastal Investment Advisors Inc. now owns 1,054 shares of the software maker’s stock valued at $316,000 after buying an additional 824 shares during the period. Enlightenment Research LLC bought a new stake in shares of Shopify in the second quarter valued at about $1,169,000. Atria Investments LLC lifted its stake in shares of Shopify by 56.5% in the second quarter. Atria Investments LLC now owns 7,150 shares of the software maker’s stock valued at $262,000 after buying an additional 2,581 shares during the period. Finally, Baillie Gifford & Co. lifted its stake in shares of Shopify by 8.4% in the second quarter. Baillie Gifford & Co. now owns 6,418,913 shares of the software maker’s stock valued at $1,926,637,000 after buying an additional 498,874 shares during the period. Institutional investors own 58.19% of the company’s stock.
Several equities research analysts recently weighed in on SHOP shares. Pi Financial started coverage on shares of Shopify in a research note on Thursday, October 10th. They issued a “buy” rating and a $492.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $400.00 target price on shares of Shopify in a research note on Monday, October 28th. Roth Capital set a $325.00 target price on shares of Shopify and gave the company a “hold” rating in a research note on Tuesday, September 10th. Piper Jaffray Companies set a $320.00 target price on shares of Shopify and gave the company a “hold” rating in a research note on Tuesday, September 10th. Finally, National Bank Financial set a $400.00 target price on shares of Shopify and gave the company a “buy” rating in a research note on Tuesday, September 10th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Shopify presently has an average rating of “Hold” and an average price target of $341.30.
NYSE:SHOP traded up $9.37 during mid-day trading on Friday, hitting $295.12. The company’s stock had a trading volume of 1,348,436 shares, compared to its average volume of 2,438,798. Shopify Inc has a fifty-two week low of $117.64 and a fifty-two week high of $409.61. The company has a current ratio of 11.21, a quick ratio of 11.21 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $33.43 billion, a price-to-earnings ratio of -483.80 and a beta of 1.18. The stock has a fifty day moving average of $316.11 and a 200-day moving average of $313.90.
Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.
Featured Story: What is an investor looking for in an SEC filing?
Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc (NYSE:SHOP) (TSE:SHOP).
Receive News & Ratings for Shopify Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify and related companies with MarketBeat.com's FREE daily email newsletter.