Alliancebernstein L.P. acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SH) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,734 shares of the software maker’s stock, valued at approximately $498,000.

Other institutional investors have also recently bought and sold shares of the company. Mn Services Vermogensbeheer B.V. purchased a new position in Shopify in the second quarter valued at approximately $1,120,000. Wedbush Securities Inc. purchased a new position in Shopify in the second quarter valued at approximately $212,000. Oppenheimer & Co. Inc. lifted its stake in Shopify by 26.8% in the second quarter. Oppenheimer & Co. Inc. now owns 39,959 shares of the software maker’s stock valued at $3,472,000 after purchasing an additional 8,437 shares during the last quarter. Barton Investment Management lifted its stake in Shopify by 13.0% in the second quarter. Barton Investment Management now owns 259,650 shares of the software maker’s stock valued at $22,564,000 after purchasing an additional 29,830 shares during the last quarter. Finally, Andra AP fonden purchased a new position in Shopify in the second quarter valued at approximately $1,734,000. Institutional investors and hedge funds own 55.03% of the company’s stock.

Shopify Inc. (SHOP) opened at $98.71 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 10.64 and a quick ratio of 11.80. Shopify Inc. has a 12 month low of $37.74 and a 12 month high of $123.94.

Several research firms recently commented on SHOP. KeyCorp reiterated an “overweight” rating on shares of Shopify in a research note on Wednesday, August 2nd. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Shopify in a research report on Wednesday, August 9th. Roth Capital increased their target price on Shopify from $117.00 to $119.00 and gave the stock a “buy” rating in a research report on Wednesday. Piper Jaffray Companies restated a “buy” rating and set a $110.00 target price on shares of Shopify in a research report on Wednesday. Finally, Vetr downgraded Shopify from a “strong-buy” rating to a “buy” rating and set a $101.92 target price on the stock. in a research report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-two have issued a buy rating to the company’s stock. Shopify presently has an average rating of “Buy” and an average target price of $100.45.

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Shopify Company Profile

Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.

Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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