Insight Holdings Group LLC Acquires 28,800 Shares of Shopify Inc. (NYSE:SHOP)

Insight Holdings Group LLC raised its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 109.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,100 shares of the software maker’s stock after purchasing an additional 28,800 shares during the period. Shopify accounts for approximately 0.2% of Insight Holdings Group LLC’s holdings, making the stock its 21st biggest position. Insight Holdings Group LLC’s holdings in Shopify were worth $4,416,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Moser Wealth Advisors LLC increased its holdings in Shopify by 1.4% in the third quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock valued at $755,000 after buying an additional 128 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of Shopify by 7.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock worth $159,000 after buying an additional 129 shares during the last quarter. Rosenberg Matthew Hamilton boosted its stake in shares of Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after buying an additional 133 shares in the last quarter. CVA Family Office LLC boosted its position in Shopify by 11.8% during the third quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock worth $109,000 after purchasing an additional 143 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC increased its stake in Shopify by 3.5% during the third quarter. Twin Peaks Wealth Advisors LLC now owns 4,282 shares of the software maker’s stock worth $343,000 after acquiring an additional 145 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SHOP. Deutsche Bank Aktiengesellschaft increased their price target on Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Barclays upped their target price on shares of Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group increased their target price on shares of Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Benchmark reissued a “hold” rating on shares of Shopify in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and a consensus price target of $95.84.

Shopify Stock Down 0.6 %

Shares of SHOP traded down $0.66 during midday trading on Tuesday, hitting $112.32. The stock had a trading volume of 987,784 shares, compared to its average volume of 9,266,556. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $116.35. The firm has a market cap of $145.13 billion, a price-to-earnings ratio of 105.59, a price-to-earnings-growth ratio of 3.04 and a beta of 2.46. The company has a 50 day simple moving average of $89.16 and a two-hundred day simple moving average of $74.06. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10.

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.