One Wealth Capital Management LLC Takes Position in Shopify Inc. (NYSE:SHOP)

One Wealth Capital Management LLC bought a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 12,046 shares of the software maker’s stock, valued at approximately $1,281,000. Shopify accounts for approximately 0.6% of One Wealth Capital Management LLC’s investment portfolio, making the stock its 27th largest holding.

Several other hedge funds have also added to or reduced their stakes in the company. Baillie Gifford & Co. raised its position 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 in the last quarter. FMR LLC lifted its position in shares of Shopify by 16.1% during the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after acquiring an additional 5,869,795 shares during the period. Mackenzie Financial Corp grew its holdings in shares of Shopify by 49.9% during the 2nd quarter. Mackenzie Financial Corp now owns 6,315,028 shares of the software maker’s stock worth $417,386,000 after purchasing an additional 2,102,939 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Shopify by 54.2% during the 2nd quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock worth $311,404,000 after purchasing an additional 1,657,251 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in Shopify by 28.0% in the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after purchasing an additional 1,621,981 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Mizuho increased their price objective on shares of Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Moffett Nathanson upped their target price on Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Redburn Atlantic upgraded Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price target on the stock in a research note on Tuesday, September 17th. Scotiabank upped their price objective on Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group lifted their target price on Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $99.88.

Shopify Trading Down 6.8 %

Shares of Shopify stock traded down $7.78 on Tuesday, reaching $106.46. 4,943,655 shares of the company’s stock were exchanged, compared to its average volume of 4,702,494. The company has a market capitalization of $137.56 billion, a P/E ratio of 99.50, a price-to-earnings-growth ratio of 2.98 and a beta of 2.46. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $120.72. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The firm’s 50-day moving average is $105.18 and its two-hundred day moving average is $83.37.

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.