Coldstream Capital Management Inc. Purchases 518 Shares of Shopify Inc. (NYSE:SHOP)

Coldstream Capital Management Inc. lifted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 14.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,140 shares of the software maker’s stock after purchasing an additional 518 shares during the period. Coldstream Capital Management Inc.’s holdings in Shopify were worth $339,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Synergy Financial Group LTD lifted its position in shares of Shopify by 1.2% during the 3rd quarter. Synergy Financial Group LTD now owns 64,532 shares of the software maker’s stock worth $5,172,000 after buying an additional 796 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Shopify by 9.6% during the third quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker’s stock worth $432,573,000 after acquiring an additional 471,280 shares during the period. Conway Capital Management Inc. purchased a new position in Shopify in the third quarter worth $864,000. M&T Bank Corp grew its stake in Shopify by 2.4% in the 3rd quarter. M&T Bank Corp now owns 42,051 shares of the software maker’s stock valued at $3,370,000 after purchasing an additional 1,001 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Shopify during the 3rd quarter valued at $33,676,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SHOP has been the topic of a number of research analyst reports. DZ Bank downgraded shares of Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Oppenheimer increased their target price on shares of Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Moffett Nathanson raised their target price on Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. 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. Finally, Robert W. Baird lifted their price objective on Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and a consensus price target of $99.03.

Shopify Price Performance

Shares of NYSE:SHOP opened at $114.63 on Monday. The company’s fifty day moving average is $96.14 and its 200 day moving average is $78.06. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $120.72. The stock has a market cap of $148.11 billion, a PE ratio of 107.13, a PEG ratio of 2.98 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.