Shopify Inc. $SHOP Stake Boosted by Banco Bilbao Vizcaya Argentaria S.A.

Banco Bilbao Vizcaya Argentaria S.A. increased its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 59.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,857 shares of the software maker’s stock after acquiring an additional 14,552 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Shopify were worth $5,708,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Financial Gravity Companies Inc. bought a new position in shares of Shopify in the second quarter valued at approximately $27,000. Rothschild Investment LLC lifted its stake in shares of Shopify by 47.5% in the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after buying an additional 75 shares during the last quarter. Heartwood Wealth Advisors LLC bought a new stake in shares of Shopify during the 3rd quarter worth $27,000. Estabrook Capital Management bought a new stake in shares of Shopify during the 2nd quarter worth $29,000. Finally, Vestor Capital LLC acquired a new position in Shopify in the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of SHOP opened at $126.58 on Tuesday. The company has a 50-day simple moving average of $133.12 and a 200-day simple moving average of $148.62. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $182.19. The firm has a market capitalization of $165.07 billion, a P/E ratio of 136.11, a P/E/G ratio of 4.41 and a beta of 2.83.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SHOP. Citigroup reissued a “buy” rating and set a $172.00 target price (down from $195.00) on shares of Shopify in a research report on Friday, February 13th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $126.00 price target (down from $181.00) on shares of Shopify in a research report on Thursday, February 12th. Stifel Nicolaus set a $115.00 price objective on Shopify and gave the stock a “hold” rating in a research note on Wednesday, February 11th. Mizuho raised Shopify from a “neutral” rating to an “outperform” rating and set a $150.00 price objective for the company in a research report on Thursday, February 12th. Finally, Robert W. Baird set a $160.00 target price on Shopify in a research note on Thursday, February 12th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and a consensus price target of $163.38.

About Shopify

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.