Vanguard Personalized Indexing Management LLC Buys 4,470 Shares of Shopify Inc. (NYSE:SHOP)

Vanguard Personalized Indexing Management LLC lifted its stake in Shopify Inc. (NYSE:SHOPFree Report) (TSE:SHOP) by 21.2% in the third quarter, HoldingsChannel.com reports. The fund owned 25,570 shares of the software maker’s stock after purchasing an additional 4,470 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Shopify were worth $1,395,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Vident Investment Advisory LLC increased its holdings in Shopify by 5.3% during the first quarter. Vident Investment Advisory LLC now owns 661 shares of the software maker’s stock valued at $447,000 after buying an additional 33 shares during the last quarter. Interchange Capital Partners LLC increased its holdings in Shopify by 7.1% during the first quarter. Interchange Capital Partners LLC now owns 511 shares of the software maker’s stock valued at $345,000 after buying an additional 34 shares during the last quarter. Ancora Advisors LLC increased its holdings in Shopify by 6.2% during the first quarter. Ancora Advisors LLC now owns 1,177 shares of the software maker’s stock valued at $1,302,000 after buying an additional 69 shares during the last quarter. SVB Wealth LLC increased its holdings in Shopify by 14.0% during the first quarter. SVB Wealth LLC now owns 659 shares of the software maker’s stock valued at $445,000 after buying an additional 81 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. increased its holdings in Shopify by 292.9% during the first quarter. Industrial Alliance Investment Management Inc. now owns 110 shares of the software maker’s stock valued at $74,000 after buying an additional 82 shares during the last quarter. 60.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SHOP has been the subject of a number of research reports. CIBC upped their target price on shares of Shopify from $82.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday. Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 price objective on shares of Shopify in a research note on Monday, January 22nd. Wells Fargo & Company increased their price objective on shares of Shopify from $70.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. DZ Bank reissued a “sell” rating and issued a $65.00 price objective on shares of Shopify in a research note on Tuesday, December 12th. Finally, Citigroup increased their price objective on shares of Shopify from $87.00 to $96.00 and gave the stock a “neutral” rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $73.04.

Check Out Our Latest Stock Analysis on Shopify

Shopify Price Performance

Shares of Shopify stock opened at $90.72 on Friday. Shopify Inc. has a 52 week low of $39.02 and a 52 week high of $91.44. The company has a current ratio of 7.23, a quick ratio of 7.23 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average is $78.42 and its two-hundred day moving average is $65.85.

About Shopify

(Free Report)

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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