YANKCOM Partnership Acquires Shares of 10,225 Shopify Inc. (NYSE:SHOP)

YANKCOM Partnership purchased a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,225 shares of the software maker’s stock, valued at approximately $1,087,000.

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

Shopify Trading Up 2.3 %

Shopify stock opened at $121.89 on Thursday. The firm has a market capitalization of $157.49 billion, a price-to-earnings ratio of 113.91, a P/E/G ratio of 2.46 and a beta of 2.47. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $122.00. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The company has a 50 day moving average price of $110.57 and a 200 day moving average price of $89.73.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SHOP. Atb Cap Markets lowered Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Canaccord Genuity Group upped their price objective on Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Robert W. Baird upped their price target on shares of Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $130.00 price objective on shares of Shopify in a research report on Wednesday, January 22nd. Finally, DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Shopify has an average rating of “Moderate Buy” and an average price target of $100.32.

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.