25,000 Shares in Shopify Inc. $SHOP Bought by Tredje AP fonden

Tredje AP fonden purchased a new stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 25,000 shares of the software maker’s stock, valued at approximately $3,715,000.

A number of other large investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. increased its position in Shopify by 39.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 51,918 shares of the software maker’s stock worth $7,716,000 after purchasing an additional 14,561 shares in the last quarter. Kovack Advisors Inc. increased its position in shares of Shopify by 34.0% in the third quarter. Kovack Advisors Inc. now owns 12,801 shares of the software maker’s stock worth $1,902,000 after acquiring an additional 3,251 shares in the last quarter. WT Asset Management Ltd purchased a new position in shares of Shopify in the 3rd quarter valued at $33,021,000. BIT Capital GmbH lifted its holdings in shares of Shopify by 76.4% during the 3rd quarter. BIT Capital GmbH now owns 188,752 shares of the software maker’s stock valued at $28,050,000 after acquiring an additional 81,723 shares in the last quarter. Finally, ICICI Prudential Asset Management Co Ltd increased its holdings in Shopify by 22.8% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 18,742 shares of the software maker’s stock valued at $2,785,000 after purchasing an additional 3,476 shares in the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SHOP has been the topic of a number of recent research reports. Phillip Securities upgraded Shopify from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Morgan Stanley reissued an “overweight” rating and set a $192.00 price target (up from $165.00) on shares of Shopify in a research report on Wednesday, November 5th. Zacks Research cut Shopify from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Robert W. Baird set a $160.00 price objective on shares of Shopify in a research note on Thursday, February 12th. Finally, Royal Bank Of Canada set a $170.00 target price on shares of Shopify and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.64.

Shopify Trading Up 1.9%

Shopify stock opened at $126.20 on Friday. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $182.19. The stock has a market cap of $164.29 billion, a P/E ratio of 135.70, a price-to-earnings-growth ratio of 4.60 and a beta of 2.83. The stock has a 50 day moving average of $145.96 and a 200-day moving average of $150.69.

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.