Trivest Advisors Ltd Invests $3.12 Million in Shopify Inc. $SHOP

Trivest Advisors Ltd bought a new position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 21,000 shares of the software maker’s stock, valued at approximately $3,121,000.

A number of other institutional investors have also added to or reduced their stakes in SHOP. Dearborn Partners LLC purchased a new position in shares of Shopify in the 3rd quarter worth about $237,000. Advyzon Investment Management LLC raised its holdings in shares of Shopify by 87.5% during the 3rd quarter. Advyzon Investment Management LLC now owns 3,936 shares of the software maker’s stock valued at $585,000 after buying an additional 1,837 shares in the last quarter. Tredje AP fonden bought a new stake in Shopify in the 3rd quarter worth approximately $3,715,000. China Universal Asset Management Co. Ltd. boosted its stake in Shopify by 39.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 51,918 shares of the software maker’s stock worth $7,716,000 after buying an additional 14,561 shares in the last quarter. Finally, Kovack Advisors Inc. boosted its stake in Shopify by 34.0% in the third quarter. Kovack Advisors Inc. now owns 12,801 shares of the software maker’s stock worth $1,902,000 after buying an additional 3,251 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Up 1.9%

Shopify stock opened at $126.20 on Friday. The firm has a market cap of $164.29 billion, a P/E ratio of 135.70, a P/E/G ratio of 4.60 and a beta of 2.83. Shopify Inc. has a 1-year low of $69.84 and a 1-year high of $182.19. The firm has a 50-day moving average of $145.96 and a 200-day moving average of $150.69.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SHOP shares. Morgan Stanley restated an “overweight” rating and issued a $192.00 price objective (up from $165.00) on shares of Shopify in a report on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $175.00 price target on shares of Shopify in a research note on Thursday, February 12th. Citigroup reaffirmed a “buy” rating and set a $172.00 price objective (down from $195.00) on shares of Shopify in a research note on Friday, February 13th. TD Cowen raised Shopify from a “hold” rating to a “buy” rating and set a $159.00 target price for the company in a research note on Wednesday, February 11th. Finally, JPMorgan Chase & Co. raised their price target on Shopify from $179.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $162.64.

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.