14,456 Shares in Shopify Inc. (NYSE:SHOP) Bought by Eventide Asset Management LLC

Eventide Asset Management LLC bought a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 14,456 shares of the software maker’s stock, valued at approximately $1,159,000.

Other institutional investors have also added to or reduced their stakes in the company. Moser Wealth Advisors LLC grew its holdings in shares of Shopify by 1.4% during the third quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock worth $755,000 after purchasing an additional 128 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in Shopify by 7.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock valued at $159,000 after purchasing an additional 129 shares during the last quarter. Rosenberg Matthew Hamilton grew its stake in Shopify by 41.3% in 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. CVA Family Office LLC increased its holdings in shares of Shopify by 11.8% in the 3rd quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock worth $109,000 after buying an additional 143 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC raised its position in shares of Shopify by 3.5% during the 3rd quarter. Twin Peaks Wealth Advisors LLC now owns 4,282 shares of the software maker’s stock valued at $343,000 after buying an additional 145 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SHOP has been the topic of a number of research analyst reports. Roth Mkm increased their target price on Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Wedbush reiterated a “neutral” rating and set a $115.00 price objective (up from $72.00) on shares of Shopify in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft boosted their target price on Shopify from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. JMP Securities increased their price target on shares of Shopify from $80.00 to $120.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 13th. Finally, Benchmark restated a “hold” rating on shares of Shopify in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.84.

Shopify Stock Up 2.8 %

NYSE:SHOP opened at $115.67 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The firm’s 50-day moving average price is $89.16 and its 200-day moving average price is $73.85. The company has a market capitalization of $149.46 billion, a PE ratio of 108.10, a P/E/G ratio of 2.96 and a beta of 2.36. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $116.35.

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.