Shopify Inc. (NYSE:SHOP) Shares Bought by Baker Tilly Wealth Management LLC

Baker Tilly Wealth Management LLC lifted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 14,437 shares of the software maker’s stock after buying an additional 445 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in Shopify were worth $1,535,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. increased its stake in shares of Shopify by 78.7% during the 2nd quarter. Victory Capital Management Inc. now owns 147,285 shares of the software maker’s stock valued at $9,728,000 after acquiring an additional 64,856 shares during the last quarter. Private Advisor Group LLC raised its stake in Shopify by 105.6% during the second quarter. Private Advisor Group LLC now owns 56,976 shares of the software maker’s stock worth $3,763,000 after purchasing an additional 29,261 shares during the period. Savant Capital LLC boosted its holdings in shares of Shopify by 44.5% in the 2nd quarter. Savant Capital LLC now owns 15,234 shares of the software maker’s stock valued at $1,006,000 after purchasing an additional 4,692 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Shopify by 90.9% during the 2nd quarter. Acadian Asset Management LLC now owns 56,463 shares of the software maker’s stock valued at $3,727,000 after buying an additional 26,885 shares during the period. Finally, Choreo LLC grew its stake in shares of Shopify by 76.1% during the 2nd quarter. Choreo LLC now owns 20,285 shares of the software maker’s stock valued at $1,313,000 after buying an additional 8,763 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SHOP. KeyCorp lifted their target price on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Barclays lifted their price objective on Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Cantor Fitzgerald restated a “neutral” rating and issued a $70.00 price target on shares of Shopify in a report on Monday, October 7th. Royal Bank of Canada lifted their price target on shares of Shopify from $100.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, Atb Cap Markets lowered shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $100.31.

Shopify Stock Performance

Shares of Shopify stock traded down $5.28 on Friday, reaching $102.36. 3,511,576 shares of the company were exchanged, compared to its average volume of 4,828,184. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $120.72. The firm has a market cap of $132.26 billion, a price-to-earnings ratio of 95.66, a P/E/G ratio of 2.98 and a beta of 2.46. 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 company’s 50-day moving average is $106.86 and its two-hundred day moving average is $83.99.

Shopify Profile

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.