Annex Advisory Services LLC Takes $282,000 Position in Shopify Inc. (NYSE:SHOP)

Annex Advisory Services LLC acquired a new stake in Shopify Inc. (NYSE:SHOPFree Report) (TSE:SHOP) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,650 shares of the software maker’s stock, valued at approximately $282,000.

Several other large investors have also modified their holdings of the company. Baillie Gifford & Co. lifted its holdings in shares of Shopify by 14.7% during the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after purchasing an additional 8,131,160 shares during the period. FMR LLC lifted its holdings in shares of Shopify by 16.1% during the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after purchasing an additional 5,869,795 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Shopify by 49.9% during the second quarter. Mackenzie Financial Corp now owns 6,315,028 shares of the software maker’s stock worth $417,386,000 after purchasing an additional 2,102,939 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Shopify by 54.2% during the second quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock worth $311,404,000 after purchasing an additional 1,657,251 shares during the period. Finally, National Bank of Canada FI lifted its holdings in shares of Shopify by 28.0% during the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock worth $593,588,000 after purchasing an additional 1,621,981 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Up 3.0 %

Shares of NYSE:SHOP opened at $106.44 on Wednesday. The stock’s 50-day moving average price is $109.65 and its two-hundred day moving average price is $86.09. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $120.72. The firm has a market cap of $137.54 billion, a price-to-earnings ratio of 99.48, a PEG ratio of 2.17 and a beta of 2.46.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SHOP. Atb Cap Markets downgraded Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Barclays increased their price objective on Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Moffett Nathanson increased their price objective on Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Canaccord Genuity Group increased their price objective on Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $120.00 price objective on shares of Shopify in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and an average price target of $100.31.

Read Our Latest Stock Analysis on Shopify

Shopify Profile

(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, Australia, China, 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.

See Also

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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