Blair William & Co. IL Grows Stock Holdings in Shopify Inc. $SHOP

Blair William & Co. IL raised its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 3.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 520,187 shares of the software maker’s stock after acquiring an additional 19,507 shares during the period. Blair William & Co. IL’s holdings in Shopify were worth $77,305,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Baltimore Washington Financial Advisors Inc. boosted its holdings in shares of Shopify by 6.2% during the third quarter. Baltimore Washington Financial Advisors Inc. now owns 110,104 shares of the software maker’s stock worth $16,363,000 after purchasing an additional 6,420 shares during the last quarter. Legacy Capital Group California Inc. increased its stake in Shopify by 34.8% in the third quarter. Legacy Capital Group California Inc. now owns 17,174 shares of the software maker’s stock valued at $2,552,000 after purchasing an additional 4,433 shares during the last quarter. Neuberger Berman Group LLC increased its stake in Shopify by 128.5% in the third quarter. Neuberger Berman Group LLC now owns 750,154 shares of the software maker’s stock valued at $111,478,000 after purchasing an additional 421,799 shares during the last quarter. Left Brain Wealth Management LLC lifted its position in Shopify by 19.5% during the third quarter. Left Brain Wealth Management LLC now owns 10,331 shares of the software maker’s stock worth $1,535,000 after buying an additional 1,688 shares during the period. Finally, Sunpointe LLC purchased a new position in Shopify during the third quarter worth about $223,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Phillip Securities upgraded Shopify from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. BMO Capital Markets set a $160.00 price objective on shares of Shopify in a research note on Thursday, February 12th. Wells Fargo & Company set a $191.00 price objective on shares of Shopify and gave the stock an “overweight” rating in a report on Thursday, February 12th. Benchmark decreased their target price on shares of Shopify from $195.00 to $145.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Finally, Citigroup restated a “buy” rating and issued a $172.00 target price (down from $195.00) on shares of Shopify in a report on Friday, February 13th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.64.

Shopify Price Performance

Shares of NASDAQ:SHOP opened at $130.20 on Friday. The business has a 50-day moving average of $137.30 and a two-hundred day moving average of $149.06. The firm has a market capitalization of $169.50 billion, a PE ratio of 140.00, a P/E/G ratio of 4.74 and a beta of 2.83. Shopify Inc. has a 12 month low of $69.84 and a 12 month high of $182.19.

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.