CAP Partners LLC Boosts Stake in Shopify Inc. (NYSE:SHOP)

CAP Partners LLC boosted its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 17,325 shares of the software maker’s stock after buying an additional 244 shares during the quarter. Shopify accounts for about 1.0% of CAP Partners LLC’s holdings, making the stock its 25th largest position. CAP Partners LLC’s holdings in Shopify were worth $1,388,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of SHOP. Swiss National Bank lifted its stake in Shopify by 0.9% in the 3rd quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock worth $293,507,000 after purchasing an additional 33,300 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Shopify by 100.6% during the third quarter. Thrivent Financial for Lutherans now owns 88,409 shares of the software maker’s stock valued at $7,086,000 after buying an additional 44,345 shares during the last quarter. Claro Advisors LLC bought a new stake in Shopify in the 3rd quarter worth approximately $456,000. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of Shopify during the 3rd quarter worth approximately $489,000. Finally, Natixis Advisors LLC boosted its position in shares of Shopify by 9.4% during the 3rd quarter. Natixis Advisors LLC now owns 1,382,889 shares of the software maker’s stock valued at $110,825,000 after acquiring an additional 118,886 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Up 0.3 %

NYSE:SHOP opened at $108.80 on Monday. The stock has a fifty day simple moving average of $81.97 and a 200 day simple moving average of $71.03. The firm has a market capitalization of $140.39 billion, a price-to-earnings ratio of 101.39, a price-to-earnings-growth ratio of 3.45 and a beta of 2.36. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $115.62. The company has a quick ratio of 7.32, a current ratio of 7.10 and a debt-to-equity ratio of 0.10.

Analyst Ratings Changes

Several brokerages have recently issued reports on SHOP. JMP Securities upped their target price on shares of Shopify from $80.00 to $120.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group boosted their target price on shares of Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Oppenheimer increased their price objective on Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Truist Financial raised their target price on shares of Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday, November 13th. Finally, Scotiabank boosted their price target on Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $94.95.

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.