Sei Investments Co. Acquires 87,352 Shares of Shopify Inc. $SHOP

Sei Investments Co. boosted its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 3.4% during the 3rd quarter, Holdings Channel reports. The firm owned 2,674,370 shares of the software maker’s stock after acquiring an additional 87,352 shares during the period. Sei Investments Co.’s holdings in Shopify were worth $397,437,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SHOP. Financial Gravity Companies Inc. purchased a new position in shares of Shopify in the 2nd quarter worth about $27,000. Rothschild Investment LLC grew its position in Shopify by 47.5% during the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after buying an additional 75 shares during the period. Heartwood Wealth Advisors LLC purchased a new stake in Shopify during the third quarter worth about $27,000. Estabrook Capital Management bought a new stake in Shopify in the second quarter worth about $29,000. Finally, Vestor Capital LLC bought a new stake in Shopify in the second quarter worth about $34,000. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Down 2.6%

NASDAQ SHOP opened at $126.17 on Friday. The firm has a market cap of $164.25 billion, a P/E ratio of 135.67, a price-to-earnings-growth ratio of 4.65 and a beta of 2.83. The company’s 50 day moving average is $134.60 and its 200-day moving average is $148.74. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $182.19.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SHOP shares. Weiss Ratings reissued a “hold (c)” rating on shares of Shopify in a research report on Monday, December 29th. Citizens Jmp lowered their price target on shares of Shopify from $200.00 to $160.00 and set a “market outperform” rating on the stock in a report on Thursday, February 12th. Arete Research set a $175.00 price objective on Shopify in a research note on Monday, February 2nd. DZ Bank raised Shopify from a “hold” rating to a “strong-buy” rating in a report on Monday, February 16th. Finally, ATB Cormark Capital Markets raised Shopify from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, February 10th. Two research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.38.

Shopify Company Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.