Flagship Harbor Advisors LLC Acquires 541 Shares of Shopify Inc. (NYSE:SHOP)

Flagship Harbor Advisors LLC increased its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,766 shares of the software maker’s stock after purchasing an additional 541 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Shopify were worth $4,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Baillie Gifford & Co. lifted its holdings in Shopify by 14.7% in the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after buying an additional 8,131,160 shares during the period. FMR LLC lifted its holdings in shares of Shopify by 16.1% during the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after purchasing an additional 5,869,795 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Shopify by 54.2% during the second quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock valued at $311,404,000 after purchasing an additional 1,657,251 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of Shopify by 28.0% during the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after purchasing an additional 1,621,981 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Shopify by 52.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker’s stock valued at $308,390,000 after purchasing an additional 1,325,350 shares during the last quarter. 69.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SHOP shares. Atb Cap Markets lowered shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Piper Sandler raised their price target on shares of Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Scotiabank raised their price target on shares of Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, October 24th. JMP Securities reissued a “market outperform” rating and set a $120.00 price target on shares of Shopify in a research report on Thursday, December 12th. Finally, Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and raised their price target for the company from $110.00 to $140.00 in a research report on Friday, December 6th. One equities 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 company. According to data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and an average price target of $100.31.

Shopify Stock Up 1.5 %

SHOP stock opened at $107.74 on Friday. The company’s 50 day moving average price is $109.37 and its 200 day moving average price is $86.92. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $120.72. The firm has a market capitalization of $139.22 billion, a price-to-earnings ratio of 100.70, a PEG ratio of 2.24 and a beta of 2.46.

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.