Strengthening Families & Communities LLC Has $330,000 Position in Shopify Inc. (NYSE:SHOP)

Strengthening Families & Communities LLC lessened its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 22.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,099 shares of the software maker’s stock after selling 882 shares during the period. Strengthening Families & Communities LLC’s holdings in Shopify were worth $330,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Baillie Gifford & Co. increased its holdings in shares of Shopify by 14.7% in the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after purchasing an additional 8,131,160 shares during the last quarter. FMR LLC boosted its holdings in shares of Shopify by 16.1% during the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after buying an additional 5,869,795 shares during the period. National Bank of Canada FI grew its stake in Shopify by 28.0% in the 3rd quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after buying an additional 1,621,981 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Shopify by 52.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker’s stock valued at $308,390,000 after buying an additional 1,325,350 shares during the last quarter. Finally, Jennison Associates LLC bought a new position in Shopify in the 4th quarter valued at about $132,323,000. 69.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SHOP shares. KeyCorp upped their target price on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Moffett Nathanson increased their price objective on Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Scotiabank lifted their target price on Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, October 24th. Oppenheimer upped their price target on shares of Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $120.00 price objective on shares of Shopify in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $101.74.

Shopify Stock Performance

NYSE:SHOP opened at $119.88 on Tuesday. The stock’s 50-day moving average is $110.91 and its 200-day moving average is $90.95. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $123.41. The stock has a market cap of $154.89 billion, a P/E ratio of 112.04, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47.

About Shopify

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.