Forsta AP Fonden Has $39.31 Million Stake in Shopify Inc. (NYSE:SHOP)

Forsta AP Fonden lifted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 21.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 369,500 shares of the software maker’s stock after acquiring an additional 65,400 shares during the quarter. Forsta AP Fonden’s holdings in Shopify were worth $39,306,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of SHOP. Brooklyn Investment Group acquired a new position in shares of Shopify during the third quarter worth approximately $33,000. Rosenberg Matthew Hamilton lifted its holdings in Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after buying an additional 133 shares in the last quarter. Truvestments Capital LLC bought a new position in Shopify in the 3rd quarter valued at $45,000. GAMMA Investing LLC raised its position in shares of Shopify by 73.5% during the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock worth $48,000 after acquiring an additional 253 shares during the last quarter. Finally, HM Payson & Co. raised its position in shares of Shopify by 37.2% during the third quarter. HM Payson & Co. now owns 686 shares of the software maker’s stock worth $55,000 after acquiring an additional 186 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SHOP has been the subject of a number of research reports. Canaccord Genuity Group lifted their price objective on Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Piper Sandler raised their price objective on shares of Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Wells Fargo & Company upped their target price on shares of Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Finally, New Street Research began coverage on Shopify in a research note on Friday, January 10th. They set a “neutral” rating and a $115.00 price objective for the company. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $100.32.

Shopify Trading Up 9.3 %

SHOP stock opened at $117.35 on Wednesday. Shopify Inc. has a one year low of $48.56 and a one year high of $120.72. The stock has a market cap of $151.63 billion, a price-to-earnings ratio of 109.67, a price-to-earnings-growth ratio of 2.24 and a beta of 2.46. The company has a fifty day moving average price of $109.65 and a two-hundred day moving average price of $87.89. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10.

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.