Shopify Inc. $SHOP Position Boosted by Natixis Advisors LLC

Natixis Advisors LLC lifted its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 3.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,479,047 shares of the software maker’s stock after acquiring an additional 46,463 shares during the quarter. Natixis Advisors LLC owned 0.11% of Shopify worth $219,802,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SHOP. Vanguard Group Inc. boosted its stake in Shopify by 1.2% in the third quarter. Vanguard Group Inc. now owns 49,926,824 shares of the software maker’s stock valued at $7,417,517,000 after acquiring an additional 610,129 shares during the period. Jennison Associates LLC increased its holdings in shares of Shopify by 64.3% during the third quarter. Jennison Associates LLC now owns 18,923,431 shares of the software maker’s stock valued at $2,812,211,000 after purchasing an additional 7,403,821 shares during the period. Norges Bank acquired a new position in Shopify during the 2nd quarter valued at about $1,794,952,000. Loomis Sayles & Co. L P raised its holdings in Shopify by 1.3% during the second quarter. Loomis Sayles & Co. L P now owns 14,622,787 shares of the software maker’s stock worth $1,686,738,000 after purchasing an additional 191,824 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Shopify by 19.9% in the 2nd quarter. Geode Capital Management LLC now owns 10,731,795 shares of the software maker’s stock worth $1,247,007,000 after buying an additional 1,781,530 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SHOP. DZ Bank upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a report on Monday, February 16th. Jefferies Financial Group set a $125.00 price objective on Shopify and gave the stock a “hold” rating in a research note on Monday, February 16th. Citigroup reissued a “buy” rating and set a $172.00 target price (down from $195.00) on shares of Shopify in a research note on Friday, February 13th. Wolfe Research upgraded Shopify from a “hold” rating to an “outperform” rating in a report on Tuesday, January 6th. Finally, TD Cowen upgraded shares of Shopify from a “hold” rating to a “buy” rating and set a $159.00 price objective for the company in a report on Wednesday, February 11th. Two investment 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 company currently has an average rating of “Moderate Buy” and an average target price of $162.64.

Shopify Trading Down 3.4%

Shares of SHOP stock opened at $130.20 on Friday. The firm’s fifty day simple moving average is $137.30 and its 200 day simple moving average is $149.06. Shopify Inc. has a 1 year low of $69.84 and a 1 year high of $182.19. The firm has a market capitalization of $169.50 billion, a P/E ratio of 140.00, a price-to-earnings-growth ratio of 4.74 and a beta of 2.83.

Shopify Company 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.