Shopify Inc. $SHOP Shares Purchased by Swiss National Bank

Swiss National Bank boosted its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 27.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,115,300 shares of the software maker’s stock after acquiring an additional 876,100 shares during the period. Swiss National Bank owned about 0.32% of Shopify worth $487,580,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. TBH Global Asset Management LLC lifted its holdings in shares of Shopify by 1.2% in the 4th quarter. TBH Global Asset Management LLC now owns 6,438 shares of the software maker’s stock worth $1,036,000 after purchasing an additional 75 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Shopify by 13.9% during the 2nd quarter. Smartleaf Asset Management LLC now owns 631 shares of the software maker’s stock worth $72,000 after buying an additional 77 shares during the last quarter. Dynamic Advisor Solutions LLC grew its stake in Shopify by 2.6% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 3,164 shares of the software maker’s stock worth $509,000 after buying an additional 80 shares during the last quarter. Pacific Sage Partners LLC increased its position in Shopify by 3.9% in the fourth quarter. Pacific Sage Partners LLC now owns 2,133 shares of the software maker’s stock worth $343,000 after buying an additional 80 shares during the period. Finally, WealthCollab LLC increased its position in Shopify by 26.7% in the fourth quarter. WealthCollab LLC now owns 380 shares of the software maker’s stock worth $61,000 after buying an additional 80 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Price Performance

Shares of Shopify stock opened at $123.56 on Friday. Shopify Inc. has a 1-year low of $94.00 and a 1-year high of $182.19. The business’s fifty day moving average price is $112.47 and its two-hundred day moving average price is $123.66. The company has a market capitalization of $160.34 billion, a P/E ratio of 122.34, a PEG ratio of 2.68 and a beta of 2.58.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SHOP. Citizens Jmp reduced their price target on shares of Shopify from $160.00 to $150.00 and set a “market outperform” rating for the company in a report on Wednesday, May 6th. Jefferies Financial Group raised shares of Shopify from a “hold” rating to a “buy” rating and increased their price objective for the stock from $140.00 to $160.00 in a report on Sunday, July 12th. National Bank Financial cut their price objective on shares of Shopify from $200.00 to $155.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 27th. DA Davidson reduced their target price on shares of Shopify from $195.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company reduced their target price on shares of Shopify from $166.00 to $144.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $157.58.

Shopify Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.