Andra AP fonden grew its stake in Shopify Inc. (NYSE:SHOP) (TSE:SH) by 7.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,500 shares of the software maker’s stock after purchasing an additional 1,100 shares during the quarter. Andra AP fonden’s holdings in Shopify were worth $2,394,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in Shopify during the 1st quarter worth about $116,000. Seven Bridges Advisors LLC bought a new position in Shopify during the 2nd quarter worth about $120,000. Advisory Services Network LLC increased its holdings in Shopify by 26.6% during the 2nd quarter. Advisory Services Network LLC now owns 1,420 shares of the software maker’s stock worth $123,000 after purchasing an additional 298 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in Shopify during the 2nd quarter worth about $135,000. Finally, Sterling Investment Advisors Ltd. increased its holdings in Shopify by 100.0% during the 2nd quarter. Sterling Investment Advisors Ltd. now owns 2,000 shares of the software maker’s stock worth $174,000 after purchasing an additional 1,000 shares in the last quarter. 54.94% of the stock is currently owned by institutional investors.

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Several equities analysts have recently weighed in on SHOP shares. Vetr upgraded Shopify from a “buy” rating to a “strong-buy” rating and set a $102.78 price objective for the company in a report on Monday, July 17th. Robert W. Baird restated an “outperform” rating and issued a $95.00 price objective on shares of Shopify in a report on Tuesday, July 18th. BidaskClub cut Shopify from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Roth Capital raised their price objective on Shopify from $92.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Finally, Zacks Investment Research upgraded Shopify from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $100.45.

Shopify Inc. (SHOP) opened at $100.01 on Friday. The company has a quick ratio of 10.64, a current ratio of 10.64 and a debt-to-equity ratio of 0.02. Shopify Inc. has a fifty-two week low of $37.74 and a fifty-two week high of $123.94.

Shopify 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.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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