Caisse DE Depot ET Placement DU Quebec Purchases 150,572 Shares of Shopify Inc. (NYSE:SHOP)

Caisse DE Depot ET Placement DU Quebec boosted its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 10.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,559,921 shares of the software maker’s stock after acquiring an additional 150,572 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Shopify were worth $125,108,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of SHOP. Baillie Gifford & Co. grew its position 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 increased its position 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 period. TD Asset Management Inc raised its stake in shares of Shopify by 6.9% in the second quarter. TD Asset Management Inc now owns 8,661,462 shares of the software maker’s stock valued at $572,263,000 after purchasing an additional 559,917 shares in the last quarter. Legal & General Group Plc boosted its stake in Shopify by 1.8% during the second quarter. Legal & General Group Plc now owns 8,233,517 shares of the software maker’s stock worth $544,017,000 after buying an additional 145,618 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Shopify by 6.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker’s stock valued at $658,248,000 after buying an additional 484,561 shares during the period. Institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

SHOP has been the subject of a number of analyst reports. Barclays raised their price objective on shares of Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Mizuho lifted their price objective on Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Truist Financial upped their price target on Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group boosted their price objective on Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, JMP Securities raised their target price on Shopify from $80.00 to $120.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Shopify presently has an average rating of “Moderate Buy” and an average target price of $95.84.

Shopify Stock Performance

Shares of NYSE SHOP opened at $115.67 on Friday. The firm has a market cap of $149.46 billion, a price-to-earnings ratio of 108.10, a P/E/G ratio of 2.96 and a beta of 2.36. 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 stock’s fifty day moving average price is $89.16 and its two-hundred day moving average price is $73.85. Shopify Inc. has a one year low of $48.56 and a one year high of $116.35.

Shopify Company 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.