Hilltop Holdings Inc. boosted its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 72.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,355 shares of the software maker's stock after acquiring an additional 5,185 shares during the period. Hilltop Holdings Inc.'s holdings in Shopify were worth $990,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in SHOP. Baillie Gifford & Co. raised its position 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 acquiring an additional 8,131,160 shares during the period. FMR LLC raised its position in Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker's stock worth $3,389,637,000 after acquiring an additional 5,869,795 shares during the period. Mackenzie Financial Corp raised its position in Shopify by 49.9% in the second quarter. Mackenzie Financial Corp now owns 6,315,028 shares of the software maker's stock worth $417,386,000 after acquiring an additional 2,102,939 shares during the period. Clearbridge Investments LLC raised its position in Shopify by 54.2% in the second quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker's stock worth $311,404,000 after acquiring an additional 1,657,251 shares during the period. Finally, MUFG Securities EMEA plc raised its position in Shopify by 11,507.2% in the second quarter. MUFG Securities EMEA plc now owns 1,506,260 shares of the software maker's stock worth $99,488,000 after acquiring an additional 1,493,283 shares during the period. Institutional investors own 69.27% of the company's stock.
Several research firms have recently issued reports on SHOP. Evercore boosted their price target on shares of Shopify from $75.00 to $80.00 in a research report on Thursday, August 8th. Robert W. Baird boosted their price target on shares of Shopify from $90.00 to $126.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Morgan Stanley boosted their price target on shares of Shopify from $80.00 to $85.00 and gave the company an "overweight" rating in a research report on Thursday, August 8th. Scotiabank boosted 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. Finally, Moffett Nathanson boosted their price target on shares of Shopify from $86.00 to $99.00 and gave the company a "neutral" rating in a research report on Tuesday, November 26th. One 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $95.84.
View Our Latest Stock Report on SHOP
Shares of Shopify stock opened at $113.39 on Thursday. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $116.35. The stock has a market capitalization of $146.51 billion, a price-to-earnings ratio of 105.97, a price-to-earnings-growth ratio of 2.97 and a beta of 2.46. The company has a fifty day moving average of $91.13 and a 200-day moving average of $75.10. 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, 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.
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