Brown Lisle Cummings Inc. Purchases 950 Shares of Shopify Inc. (NYSE:SHOP)

Brown Lisle Cummings Inc. grew its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 13.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,220 shares of the software maker’s stock after acquiring an additional 950 shares during the quarter. Brown Lisle Cummings Inc.’s holdings in Shopify were worth $874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Swiss National Bank lifted its position in Shopify by 0.9% during the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock valued at $293,507,000 after purchasing an additional 33,300 shares during the last quarter. Jennison Associates LLC bought a new position in shares of Shopify in the 4th quarter valued at about $132,323,000. Watts Gwilliam & Co. LLC lifted its holdings in shares of Shopify by 53.0% in the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after acquiring an additional 4,641 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its position in Shopify by 29.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock valued at $27,409,000 after purchasing an additional 77,500 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its stake in shares of Shopify by 26.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock valued at $2,693,000 after purchasing an additional 7,027 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SHOP. Robert W. Baird increased their price target on Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. DZ Bank downgraded shares of Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Oppenheimer lifted their price target on shares of Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Wedbush raised shares of Shopify from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $115.00 to $125.00 in a research note on Monday, January 6th. Finally, Mizuho upped their target price on Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $100.32.

Shopify Stock Performance

Shares of Shopify stock opened at $114.38 on Tuesday. The company has a 50 day moving average price of $110.36 and a 200 day moving average price of $88.97. The firm has a market capitalization of $147.79 billion, a P/E ratio of 106.90, a PEG ratio of 2.46 and a beta of 2.47. 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 $122.00.

Shopify 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.