Aviva PLC purchased a new position in Shopify Inc (NYSE:SHOP) (TSE:SHOP) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 44,661 shares of the software maker’s stock, valued at approximately $7,345,000.

Several other institutional investors have also recently made changes to their positions in SHOP. Resources Investment Advisors Inc. raised its stake in Shopify by 10,257.1% in the second quarter. Resources Investment Advisors Inc. now owns 725 shares of the software maker’s stock valued at $106,000 after purchasing an additional 718 shares in the last quarter. Captrust Financial Advisors raised its stake in Shopify by 643.3% in the second quarter. Captrust Financial Advisors now owns 1,115 shares of the software maker’s stock valued at $163,000 after purchasing an additional 965 shares in the last quarter. Bollard Group LLC purchased a new stake in Shopify in the third quarter valued at approximately $164,000. Cornerstone Wealth Management LLC purchased a new stake in Shopify in the second quarter valued at approximately $165,000. Finally, Private Advisor Group LLC purchased a new stake in Shopify in the second quarter valued at approximately $203,000. 62.64% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE SHOP opened at $150.20 on Thursday. Shopify Inc has a one year low of $92.41 and a one year high of $176.60. The company has a current ratio of 11.82, a quick ratio of 11.82 and a debt-to-equity ratio of 0.01. The company has a market cap of $16.33 billion, a price-to-earnings ratio of -357.62 and a beta of 1.42.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Thursday, October 25th. The software maker reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.34. Shopify had a negative net margin of 6.93% and a negative return on equity of 4.26%. The business had revenue of $270.06 million for the quarter, compared to analysts’ expectations of $257.17 million. As a group, sell-side analysts predict that Shopify Inc will post -0.63 EPS for the current fiscal year.

SHOP has been the topic of a number of recent analyst reports. Rosenblatt Securities initiated coverage on shares of Shopify in a research note on Tuesday, September 4th. They issued a “buy” rating and a $188.00 target price on the stock. Zacks Investment Research reaffirmed a “buy” rating and issued a $145.00 target price on shares of Shopify in a research note on Thursday, November 15th. Macquarie set a $185.00 target price on shares of Shopify and gave the company a “buy” rating in a research note on Friday, October 26th. Jefferies Financial Group initiated coverage on shares of Shopify in a research note on Monday, October 1st. They issued a “hold” rating and a $175.00 target price on the stock. Finally, Wedbush initiated coverage on shares of Shopify in a research note on Thursday, September 13th. They issued an “outperform” rating and a $177.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Shopify presently has a consensus rating of “Buy” and an average target price of $164.90.

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Shopify Profile

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in Canada, the United States, the United Kingdom, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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