Coldstream Capital Management Inc. Makes New Investment in Shopify Inc. (NYSE:SHOP)

Coldstream Capital Management Inc. acquired a new position in shares of Shopify Inc. (NYSE:SHOPFree Report) (TSE:SHOP) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,216 shares of the software maker’s stock, valued at approximately $251,000.

Several other hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Shopify in the fourth quarter valued at $1,049,089,000. Artisan Partners Limited Partnership increased its position in Shopify by 78.4% in the third quarter. Artisan Partners Limited Partnership now owns 4,809,633 shares of the software maker’s stock worth $262,462,000 after purchasing an additional 2,113,773 shares during the period. Baillie Gifford & Co. increased its position in Shopify by 2.3% in the fourth quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock worth $4,998,476,000 after purchasing an additional 1,419,749 shares during the period. Quadrature Capital Ltd acquired a new stake in Shopify in the third quarter worth about $68,746,000. Finally, International Assets Investment Management LLC increased its position in Shopify by 6,637.3% in the fourth quarter. International Assets Investment Management LLC now owns 1,188,598 shares of the software maker’s stock worth $92,592,000 after purchasing an additional 1,170,956 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on SHOP shares. The Goldman Sachs Group upgraded Shopify from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $67.00 to $74.00 in a research report on Wednesday, May 22nd. BNP Paribas upgraded Shopify from an “underperform” rating to an “outperform” rating in a research report on Thursday, May 2nd. UBS Group lifted their price objective on Shopify from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Robert W. Baird lowered their price objective on Shopify from $87.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Finally, Truist Financial raised their target price on Shopify from $65.00 to $90.00 and gave the stock a “hold” rating in a report on Monday, February 12th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, Shopify has a consensus rating of “Moderate Buy” and a consensus target price of $77.06.

View Our Latest Stock Report on Shopify

Shopify Trading Down 1.2 %

NYSE SHOP opened at $56.97 on Monday. The stock’s 50 day moving average price is $70.27 and its two-hundred day moving average price is $74.29. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.14 and a current ratio of 7.14. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57.

Shopify Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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