Thrivent Financial for Lutherans raised its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 100.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,409 shares of the software maker's stock after acquiring an additional 44,345 shares during the period. Thrivent Financial for Lutherans' holdings in Shopify were worth $7,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group increased its stake in shares of Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker's stock worth $26,000 after purchasing an additional 200 shares in the last quarter. Cultivar Capital Inc. acquired a new position in shares of Shopify during the 2nd quarter valued at $33,000. Hazlett Burt & Watson Inc. purchased a new stake in Shopify during the 2nd quarter worth $33,000. Rosenberg Matthew Hamilton increased its stake in Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker's stock worth $36,000 after buying an additional 133 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Shopify during the 2nd quarter worth $39,000. Institutional investors and hedge funds own 69.27% of the company's stock.
NYSE:SHOP opened at $106.96 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The firm's fifty day moving average price is $85.50 and its two-hundred day moving average price is $72.15. Shopify Inc. has a one year low of $48.56 and a one year high of $115.62. The company has a market cap of $138.02 billion, a P/E ratio of 99.96, a P/E/G ratio of 2.80 and a beta of 2.36.
Several equities research analysts have recently weighed in on SHOP shares. Atb Cap Markets downgraded shares of Shopify from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, November 12th. Benchmark reissued a "hold" rating on shares of Shopify in a research note on Tuesday, August 6th. Robert W. Baird upped their price target on shares of Shopify from $90.00 to $126.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. KeyCorp upped their price target on shares of Shopify from $80.00 to $130.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Finally, UBS Group raised their target price on shares of Shopify from $71.00 to $75.00 and gave the stock a "neutral" rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $94.95.
Check Out Our Latest Report on SHOP
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.
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